On Holding price target raised to $47 from $40 at Barclays

Barclays analyst Adrienne Yih raised the firm’s price target on On Holding to $47 from $40 and keeps an Overweight rating on the shares post the Q2 report. Results for the quarter met expectations, and likely would have exceeded further had it not been for operational challenges from the transition to the new Atlanta warehouse leading to direct-to-consumer out-of-stocks and wholesale cancellations from shipment delays, the analyst tells investors in a research note. The firm continues to like On’s long-term opportunity.