On Holding price target raised to $70 from $58 at Bernstein

Bernstein raised the firm’s price target on On Holding (ONON) to $70 from $58 and keeps an Outperform rating on the shares. Following a tough 2024 with the widespread middle/higher-income squeeze and trade-down, U.S. consumers are more optimistic on discretionary spending in 2025, the firm argues. Bernstein likes exposure to High-income and Sportswear as key bright spots for stronger spending against weaker comparable sales.