On Holding price target raised to $45 from $41 at Stifel

Stifel raised the firm’s price target on On Holding to $45 from $41 and keeps a Buy rating on the shares. The firm has viewed 2024 as an inflection year for On’s global brand awareness and trial, and an encouraging refresh of apparel and accessory items and breakthrough innovation increase its confidence in On’s near-term momentum and multi-year potential, the analyst tells investors in a research note. Stifel sees opportunity for FY24 guidance to revise higher though notes incremental FX headwinds since the last guidance.