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On Holding AG (ONON) PT Raised to $33 at BMO Capital

Thu, 24 Sep 2026 09:40:51 -0400

BMO Capital analyst Kelly Crago raised the price target on On Holding AG (NYSE: ONON) to $33.00 (from $28.00) while maintaining a Market Perform rating.

The analyst commented: "At its Zurich investor day, ONON laid out ambitious FY29 targets of +high-teens annual top-line growth, 65.0%+ gross margin, and 22.0%+ EBITDA margin, implying ~$7B in FY29 revenue. Few athletic brands have ever reached that scale, which keeps us cautious, particularly given ONON's premium positioning. U.S. wholesale sell-through has improved versus 2Q, though management acknowledged they aren't happy with the brand's current presentation in the marketplace. Shares look inexpensive at ~8.0x FY27 EV/EBITDA,

On Holding AG (ONON) PT Raised to $33 at BMO Capital

Thu, 24 Sep 2026 09:40:51 -0400

BMO Capital analyst Kelly Crago raised the price target on On Holding AG (NYSE: ONON) to $33.00 (from $28.00) while maintaining a Market Perform rating.

Piper Sandler Reiterates Overweight Rating on On Holding AG (ONON)

Thu, 24 Sep 2026 09:06:10 -0400

Piper Sandler analyst Anna Andreeva reiterated an Overweight rating and $45.00 price target on On Holding AG (NYSE: ONON).

The analyst commented: "We attended ONON's Investor Day in Zurich this week--in a tough backdrop for the category, ONON's consumer first and agile innovation engine is an under-appreciated differentiator of the model; the 3 year algo for high teens sales growth through '29 is ahead of reined in buy-side expectations (soccer and newly announced golf contributing very slightly), while the goal for "at least" 65% GM and 22%+ EBITDA margin puts the company at the top echelon of athletic peers and luxury

Bernstein SocGen Group Reiterates Outperform Rating on On Holding AG (ONON)

Thu, 24 Sep 2026 08:46:16 -0400

Bernstein SocGen Group analyst Aneesha Sherman reiterated an Outperform rating and $62.00 price target on On Holding AG (NYSE: ONON).

The analyst commented: "Powerful mid-term algo from Investor Day; On’s Investor Day brought a stream of good news: Mid-term targets above expectations, new share buyback, more Running innovation, entering Football and Golf, and launching an expanded Apparel assortment. FY26 guide is reiterated despite a promotional environment, and longer term this could remain the most compelling compounder in Global Sportswear, at a historically low valuation.

High-quality global growth story with low-20s earnings CAGR across a balanced algo, trading at historical lows. We see

On Holding AG (ONON) PT Raised to $44 at Barclays

Thu, 24 Sep 2026 05:26:05 -0400

Barclays analyst Adrienne Yih raised the price target on On Holding AG (NYSE: ONON) to $44.00 (from $42.00) while maintaining a Overweight rating.

This lifestyle stock trades at a discounted valuation: Stifel

Wed, 23 Sep 2026 16:00:00 -0400

Stifel said in a note this week that it believes one lifestyle stock remains attractively valued after it laid out its medium-term growth plans at an investor day, with analyst Peter McGoldrick reaffirming a $41 price target.

McGoldrick noted that Swiss brand On Holding AG (NYSE: ONON) outlined the building blocks for the next three years, headlined by high-teens constant-currency revenue growth through 2029 and a 22% adjusted EBITDA margin.

That points to CHF 1.23 billion in adjusted EBITDA in fiscal 2029, a 21% compound annual growth rate from the midpoint of implied 2026 guidance.

The growth is concentrated in On's running,

This lifestyle stock trades at a discounted valuation: Stifel

Wed, 23 Sep 2026 16:00:00 -0400

That points to CHF 1.23 billion in adjusted EBITDA in fiscal 2029, a 21% compound annual growth rate from the midpoint of implied 2026 guidance.

The growth is concentrated in On's running,

On Holding AG (ONON) Stock: Market Doesn't Appreciate Brand's Potential, Says Analyst

Wed, 23 Sep 2026 09:11:24 -0400

UBS analyst Jay Sole reiterated a Buy rating and $73.00 price target on On Holding AG (NYSE: ONON).

The analyst commented, "We think On's continued focus on innovation, performance, athletes, sports, direct-to-consumer selling, and commitment to maintaining a premium, full-price brand image will lead to industry leading sales growth, upside earnings surprises, and stock outperformance. We forecast On delivering a 29% 5-yr. EPS CAGR. This type of growth would make On one of the world's fastest growing athletic wear brands and worthy of a premium multiple, in our view. We think the market sees On as mainly a running shoe brand

Form 4 On Holding AG For: Sep 21 Filed by: Miele Laura

Wed, 23 Sep 2026 08:29:00 -0400

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Form 4 On Holding AG For: Sep 21 Filed by: Durkin Dennis M

Wed, 23 Sep 2026 08:28:00 -0400

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Form 4 On Holding AG For: Sep 21 Filed by: Perez Alexandre

Wed, 23 Sep 2026 08:27:00 -0400

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Form 4 On Holding AG For: Sep 21 Filed by: Banse Amy

Wed, 23 Sep 2026 08:27:00 -0400

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Form 4 On Holding AG For: Sep 21 Filed by: Helmersson Helena

Wed, 23 Sep 2026 08:26:00 -0400

si-local-file:///var/storage/secattach/20260923/27093692.html

Citi reiterates buy rating on On Holding AG with $55 target

Wed, 23 Sep 2026 07:52:40 -0400

Citi analyst Yawen Gao reiterated a Buy rating and $55.00 price target on On Holding AG (NYSE: ONON).

The analyst noted that On Holding management's fiscal 2029 outlook of high-teens sales compound annual growth rate is above market expectations of mid-teens growth. Gao cited the company's planned expansion into categories such as golf and football, along with targets of 65% or higher gross margin and 22% or higher EBITDA margin.

Gao acknowledged that near-term pressures in the athletic sector have led to reduced fiscal 2026 wholesale sell-in but described this as a temporary dynamic.

Citi reiterates buy rating on On Holding AG with $55 target

Wed, 23 Sep 2026 07:52:40 -0400

Citi analyst Yawen Gao reiterated a Buy rating and $55.00 price target on On Holding AG (NYSE: ONON).

Gao acknowledged that near-term pressures in the athletic sector have led to reduced fiscal 2026 wholesale sell-in but described this as a temporary dynamic.

On Holding AG (ONON) Reiterated at Buy by Stifel After Investor Day

Wed, 23 Sep 2026 07:40:32 -0400

Stifel analyst Peter McGoldrick reiterated a Buy rating and $41.00 price target on On Holding AG (NYSE: ONON).

The analyst commented, "The On investor day outlined the building blocks for the next three years with a headline of +HT % cc revenue growth through 2029 with a 22% adj. EBITDA margin. Point to CHF 1,232mn adj. EBITDA in FY29, 21% CAGR from the midpoint of the implied FY26 EBITDA guide. The composition of growth is concentrated in the run, sneaker, and apparel businesses complemented by newer categories, including soccer and golf. Meaningfully adj. EBITDA margin assumes flat gross margin, which could

Baird Reiterates Outperform Rating on On Holding AG (ONON)

Wed, 23 Sep 2026 07:05:42 -0400

Baird analyst Jonathan Komp reiterated an Outperform rating and $55.00 price target on On Holding AG (NYSE: ONON).

The analyst commented: "Maintaining Outperform rating with incrementally bullish positioning. ONON's reinforced leadership team, premium growth focus, and robust innovation pipeline ("generational" across performance, apparel, global football, golf) were on full display Tuesday in Zurich. Plans calling for a 2027-2029E CAGR of +high-teens for revenue and >20% for adjusted EBITDA look reasonable, with several possible upside levers if newer initiatives scale faster. With the company set to deliver on Q3E (guidance reiterated, tone on sell-through positive) we think sentiment and valuation can recover

On Holding AG (ONON) PT Raised to $40 at Needham, 'Bullish Analyst Day Alleviates Growth-Slowdown Fears'

Wed, 23 Sep 2026 06:13:41 -0400

Needham analyst Tom Nikic raised the price target on On Holding AG (NYSE: ONON) to $40.00 (from $37.00) while maintaining a Buy rating.

The analyst comments "Amid a challenging athleticwear environment, ONON provided a compelling multi-year roadmap, with 3-year financial targets that exceeded Street expectations (high-teens revenue CAGR, while we think the buyside was expecting low- or mid-teens). Heading into the event, we were worried that even if they provided an optimistic outlook, investors would view it skeptically, but management seems to have threaded the needle nicely, and offered an outlook that is both bullish and believable. Now, execution will be

On Holding AG (ONON) PT Raised to $40 at Needham, 'Bullish Analyst Day Alleviates Growth-Slowdown Fears'

Wed, 23 Sep 2026 06:13:41 -0400

Needham analyst Tom Nikic raised the price target on On Holding AG (NYSE: ONON) to $40.00 (from $37.00) while maintaining a Buy rating.

BTIG on On Holding AG (ONON): 'Large Cap Top Pick'

Wed, 23 Sep 2026 05:25:40 -0400

BTIG analyst Janine Stichter reiterated a Buy rating and $60.00 price target on On Holding AG (NYSE: ONON).

The analyst comments "On hosted its first investor day since 2023, highlighting both opportunities to grow within its core, and also enter new categories, including football (note here) and golf, all while maintaining its premium positioning and related margin strength. We believe the high-teens growth target was likely slightly better than the market was anticipating, and importantly, includes a minimal contribution from new sports. The low-20s Adj. EBITDA margin/65%+ GM underscore management's commitment to its premium brand positioning, while still embedding the necessary

Telsey Reiterates Outperform Rating on On Holding AG (ONON)

Wed, 23 Sep 2026 05:06:13 -0400

Telsey analyst Cristina Fernandez reiterated an Outperform rating and $43.00 price target on On Holding AG (NYSE: ONON).

The analyst comments "TAG View: This marked On's second investor day since the IPO, with the company having exceeded the 2026 targets it gave at its first investor day in October 2023. The focus for the next three years (2027-2029) is driving further growth through innovation and its premium strategy, primarily from its core categories of running, lifestyle, and apparel, while expanding its other performance segments (i.e. tennis and outdoor) and generating a small contribution from entry into two new sports that were

Increasing unusual call option volume: CPRI GRAB DNA DKS CMPX XNDU DAR ONON

Tue, 22 Sep 2026 10:29:47 -0400

Increasing unusual call option volume: CPRI GRAB DNA DKS CMPX XNDU DAR ONON

On Holding sets 2029 financial targets, authorizes $1B share buyback

Tue, 22 Sep 2026 07:03:47 -0400

On Holding AG (NYSE: ONON) held its Investor Day in Zurich, where the Swiss sportswear company outlined financial targets for the 2026–2029 period and announced a share repurchase program.

The company set a net sales target of at least CHF 5.6 billion by 2029, equivalent to approaching $7 billion at current exchange rates, representing a high-teens constant currency compound annual growth rate. On also set a gross profit margin target of at least 65% throughout the period and an adjusted EBITDA margin target of at least 22% by 2029, implying an adjusted EBITDA CAGR above 20% for the period.

On's board authorized

On Holding sets 2029 financial targets, authorizes $1B share buyback

Tue, 22 Sep 2026 07:03:47 -0400

On Holding AG (NYSE: ONON) held its Investor Day in Zurich, where the Swiss sportswear company outlined financial targets for the 2026–2029 period and announced a share repurchase program.

On's board authorized

On Holding sets 2029 financial targets, authorizes $1B share buyback

Tue, 22 Sep 2026 07:03:47 -0400

On Holding AG (NYSE: ONON) held its Investor Day in Zurich, where the Swiss sportswear company outlined financial targets for the 2026–2029 period and announced a share repurchase program.

On's board authorized