UBS keeps a Buy rating and $27 price target on ON Holding (ONON) after its Q4 earnings and guidance. The results were "exceptional", and the sell-side’s FY23 sales and adjusted EBITDA estimates should rise a lot, the analyst tells investors in a research note. While the stock currently trades in line with valuation of Nike (NKE) and Lululemon (LULU), the market is likely to increasingly realize that the company is one of Softlines’ very best growth stocks and worthy of a premium multiple, the firm added.
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