On Holding price target raised to $51 from $46 at Truist

Truist raised the firm’s price target on On Holding to $51 from $46 and keeps a Buy rating on the shares post the Q2 report. The company’s revenue and EBITDA modestly topped consensus expectations and it reiterated its outlook for at least 30% fiscal year constant currency growth, the analyst tells investors in a research note. The firm says that while currency and temporary logistics headwinds are near-term pressures, On’s demand trends “remain robust” across regions, channel and product categories with expected to accelerate in the second half of the year. Truist is bullish on the brand’s forward momentum, saying its recent wholesale expansion, partnership with Zendaya, and elevated attention from the Olympics “have helped to rapidly expand awareness.”