On Holding price target raised to $41 from $36 at Goldman Sachs

Goldman Sachs analyst Richard Edwards raised the firm’s price target on On Holding to $41 from $36 and keeps a Buy rating on the shares after its Q1 results. The company earnings demonstrated “strong” brand momentum with rising DTC channel mis driving margin progress despite re-phased marketing investment, the analyst tells investors in a research note. The firm is also raising its FY24 sales growth forecast to 31.5% from 29.2% and its FY25 forecast to 26.5% from 25.5%.