On Holding price target raised to $40 from $37 at Evercore ISI

Evercore ISI raised the firm’s price target on On Holding to $40 from $37 and keeps an Outperform rating on the shares. On’s Q1 update will be a “battle” between checks that show ongoing strong demand from retailers across all geographies and channels versus some operating issues fulfilling orders from a new U.S. distribution center that the firm picked up during its field work, the analyst tells investors in an earnings preview. However, the firm recommends focusing on the longer-term opportunity for “a brand built to last,” the analyst added.