On Holding price target raised to $47 from $41 at Goldman Sachs

Goldman Sachs raised the firm’s price target on On Holding to $47 from $41 and keeps a Buy rating on the shares. The firm sees the company’s Q2 revenue growing 33% in constant FX, with EBITDA margins also expanding 120bps to 15.3%, the analyst tells investors in a research note. Goldman Sachs is also updating its DTC assumptions following the recent moderation in wholesale door openings, now forecasting DTC sales to grow at 25% per year over 2023-2031 vs. prior forecast of 23%.