On Holding price target raised to $34 from $33 at Morgan Stanley

Morgan Stanley analyst Alex Straton raised the firm’s price target on On Holding to $34 from $33 and keeps an Overweight rating on the shares. A likely benign demand backdrop, easier first half comparisons, favorable calendar and weather comparisons and the 53rd-week reversal benefit “could keep the Softlines Retail & Brands ‘party’ going near term,” but the set-up flips for Specialty Retail in the second half, says the firm, which is downgrading its Specialty Retail sub-sector view to Cautious while upgrading its Brands view to Attractive.