On Holding price target raised to $47 from $40 at Telsey Advisory

Telsey Advisory raised the firm’s price target on On Holding to $47 from $40 and keeps an Outperform rating on the shares. The company’s multi-year deal with Zendaya can help On across several fronts, including reach a wider audience, connect with younger female customers, and drive apparel sales, the analyst tells investors. Overall, this announcement is “incrementally positive” for the brand, the firm adds.