On Holding price target lowered to $37 from $38 at Evercore ISI

Evercore ISI lowered the firm’s price target on On Holding to $37 from $38 and keeps an Outperform rating on the shares. Lower Q4 and 2024 wholesale outlook concerns are “somewhat overblown,” and the firm thinks On “made the right move” to calibrate the wholesale outlook more conservatively, but points to investors’ worries as “a reminder of the high expectations” as On scales.