On Holding initiated with an Outperform at Evercore ISI

Evercore ISI analyst Michael Binetti initiated coverage of On Holding with an Outperform rating and $38 price target. The company’s combination of low but growing brand awareness, along with strong early adoption trends in key global consumer markets, supports the firm’s expectations that it will continue to deliver top-of-peer growth rate for several years, the analyst tells investors in a research note. The firm adds that the stock trades at a low current growth-adjusted valuation.