On Holding price target raised to $39 from $27 at UBS

UBS analyst Jay Sole raised the firm’s price target on On Holding to $39 from $27 and keeps a Buy rating on the shares. UBS thinks On’s continued focus on innovation, performance, athletes, sports, direct-to- consumer selling, and maintaining a premium, full-price brand image should lead to industry leading sales growth and earnings beats, driving stock outperformance, the analyst tells investors in a research note. The firm expects On to deliver a 34% 5-year sales CAGR and a 43% 5-year EPS CAGR.