A week after its Investor Day presentation in Zurich, equity researchers at Robert W. Baird have upgraded ON Holdings (NYSE:ONON) from Hold to Buy with a $33 price target. The analysts cited the company’s impressive presentation, growth drivers, and potential upside as the basis for the rating. Likewise, the company is expected to benefit from the growing global sportswear market valued at $300B. As a result, shares jumped at the time of writing.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
At the investor presentation, ON revealed its new revenue targets and three-year growth drivers. Beyond convincing investors, the presentation seems to have had a positive effect on the minds of analysts such as Jonathan Komp.
Komp said the presentation reinforced his confidence in the company and its potential to drive growth through its products. Notably, Komp said key executives at the company laid out credible strategies on how the company plans to become a global premium Sportswear brand.
As a result, Komp said the company’s ambitions are backed by achievable goals, thus convincing him that the company can become a leading premium global sportswear brand by leveraging innovation, design, sustainability, and the power of movement.
What is the Price Prediction for ONON?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ONON stock based on 10 Buys, two Holds, and one Sell assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $35.49 per share implies a 38.42% upside potential.
