On Holding price target raised to $36 from $35 at TD Cowen

TD Cowen raised the firm’s price target on On Holding to $36 from $35 and keeps an Outperform rating on the shares. The firm said that Q4 Americas sales was a deceleration compared to Q3, and that combined with weaker inbound third party data has shares down during Tuesday’s session. TD Cowen added that its increased price target is above Wall Street estimates due to the firm’s above-consensus FY24 gross margin estimate.