On Holding price target raised to $30 from $29 at Truist

Truist raised the firm’s price target on On Holding to $30 from $29 and keeps a Hold rating on the shares. The company’s 2024 topline guidance was short of the “lofty” investor expectation, and given the “significantly” softer Q1 revenue outlook, the 2024 forecast is far more second-half-weighted than the Street was previously expecting, the analyst tells investors in a research note. Truist remains positive on the brand’s momentum and long-term opportunities but also believes that the risk/reward for On Holding remains balanced.