On Holding Has Meaningful Growth Opportunities, Says Bullish Analyst
Portfolio Pulse from Priya Nigam
On Holding AG (NYSE:ONON) has been upgraded from Hold to Buy by Truist Securities' Joseph Civello, with a price target increase from $34 to $46. The company is expected to benefit from strong trends and increased marketing efforts, especially with the upcoming Olympics. Nike Inc (NYSE:NKE) is also mentioned as pulling back on certain products, potentially benefiting On Holding.
May 28, 2024 | 3:49 pm
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POSITIVE IMPACT
On Holding AG has been upgraded from Hold to Buy by Truist Securities, with a price target increase from $34 to $46. The company is expected to benefit from strong trends and increased marketing efforts, especially with the upcoming Olympics.
The upgrade from Hold to Buy and the significant price target increase indicate strong confidence in On Holding's growth prospects. The upcoming Olympics and positive wholesale demand trends further support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Nike Inc is mentioned as pulling back on certain fan-favorite products as part of its franchise lifecycle management strategy, which could benefit On Holding by allowing it to gain market share.
Nike's pullback on certain products could create opportunities for On Holding to gain market share. However, the direct impact on Nike's stock price is less certain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50