Raymond James upgraded On Holding AG (ONON) to Strong Buy from Outperform. The investment firm set a price target of $52.00. Analysts also added the company to their Analyst Current Favorites list.
The upgrade follows a 16% decline in share price since the last earnings report. Raymond James identifies this pullback as an attractive entry point for investors.
Recent market pressure stemmed from concerns over a CEO transition and higher oil prices. Raymond James maintains confidence in the leadership as the co-founders retain control.
The firm projects 22% EBITDA growth for the company in 2027. This outlook reflects strong underlying business fundamentals.