On Holding price target raised to $38 from $35 at Baird

Baird raised the firm’s price target on On Holding to $38 from $35 and keeps an Outperform rating on the shares. The firm said while they see potential for initial 2024E revenue guidance below estimates which assume growth above the company’s long-term targets, signs of robust brand momentum, positive orders, and ramping new product launches support their confidence in the fundamentals.