Footwear maker On Holding gains after UBS Global Research hikes PT

On Holding AG

04/11/2024 16:16

** U.S.-listed shares  ONON.N  of Swiss sports footwear maker On
Holding up ~1% at $47.13
    ** Brokerage UBS Global Research raises PT on company's
shares to $61 from $55, says company's ongoing sales momentum
would boost sentiment around the stock
    ** Increased confidence in ONON's ability to drive
sustainable sales growth and margin expansion - brokerage
    ** High-double-digit growth in ONON's U.S.
direct-to-consumer sales across all months in Q3 is a positive
sign - brokerage
    ** Brokerage adds that brands such as Hoka and On are still
taking significant market share from sportswear giants like Nike
 NKE.N 
    ** 19 of 23 brokerages rate the stock "buy" or "higher", and
4 "hold"; Median PT $51 - LSEG
    ** Including session moves, On Holding's U.S.-listed shares
up nearly 75% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))