Intel stock spikes after report of possible US government stake
Investing.com - On Holding AG (NYSE:ONON), the $16 billion market cap athletic footwear company, saw its shares jump in premarket trading Tuesday after Truist Securities reiterated its Buy rating and $69.00 price target. According to InvestingPro data, analyst targets range from $51.87 to $77.59.
The stock rose by low-teens percentage points following the company’s quarterly results, which exceeded expectations across multiple metrics despite recent negative investor sentiment.
On Holding delivered second-quarter operating results that outperformed across categories, regions, and channels, with its direct-to-consumer segment showing particularly strong momentum by accelerating to 54% year-over-year growth on a constant currency basis, up from 42% in the first quarter.
The company raised its full-year outlook for both sales and margins despite incorporating higher reciprocal tariff rates of 20% on Vietnam compared to the 10% rate when previous guidance was established.
Truist Securities noted that On Holding’s robust underlying demand momentum makes it an attractive opportunity in a challenging discretionary spending environment, with the firm expecting the company to benefit from "increasing scarcity value as a winner."
In other recent news, On Holding AG has seen a series of analyst updates regarding its stock ratings and price targets. UBS reiterated its Buy rating for On Holding, highlighting solid second-quarter 2025 revenue trends and suggesting the company might raise its fiscal year 2025 sales growth outlook. Meanwhile, TD Cowen lowered its price target for On Holding to $60 from $63, maintaining a Buy rating but expressing concerns over foreign exchange impacts and tariff uncertainties. Raymond (NSE:RYMD) James downgraded On Holding from Strong Buy to Outperform, maintaining a $66 price target due to the strengthening Swiss Franc and updated tariff assumptions. Piper Sandler also reiterated its Overweight rating with a $65 price target, noting that On Holding shares have underperformed recently. These developments reflect varying analyst perspectives on the company’s financial outlook and market conditions.
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