On Holding initiated with an Overweight at KeyBanc

KeyBanc analyst Ashley Owens initiated coverage of On Holding with an Overweight rating and $42 price target. On is a premium sportswear brand made by runners, for runners, and continues to grow its brand awareness due to grassroots campaigns as well as its innovative and unique product line, the analyst tells investors in a research note. The firm says the company’s fiscal 2023 guidance looks to be conservative and that On has the potential to deliver upside while driving margin expansion.