Shares of On Holding can surge more than 65% as more people on Wall Street get on board with the Swiss footwear sneaker company, according to Goldman Sachs. Analyst Richard Edwards upgraded shares to buy from neutral, but lowered his target price, saying investors can expect "rapid growth" from the footwear company on the strength of its brand. "On Holding AG is a US-listed, Swiss-based sportswear brand founded in 2010.
Regardless, the analyst expects that On will continue to grow from here, pointing to the company's recent quarterly results. The company showed strong sales growth, and raised its 2022 full-year guidance. According to the note, in the third quarter of 2022, On grew sales in Europe by 32% year over year, in North America by 57%, and in Asia-Pacific by 85%.
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Source: FXStreetNews - 🏆 14. / 72 Read more »