Despite recent market volatility, prominent financial analysts on Wall Street continue to express strong confidence in On Holding AG (ONON), the innovative Swiss sportswear company. Analysts cite the company's robust growth potential and strategic leadership changes as key factors underpinning their optimistic forecasts, suggesting a promising future for the brand in the competitive global athletic market.
On February 3, Bernstein SocGen Group reiterated its 'Outperform' rating for On Holding AG, keeping its price target at $70. The firm highlighted ONON as one of the most mispriced stocks in the sportswear sector, noting that its market valuation had decreased by 15% in 2025 despite impressive financial results for the year. This assessment suggests that the stock's recent performance does not accurately reflect the company's fundamental strength and growth trajectory.
Bernstein underscored On Holding's position as a compelling long-term compounder within the global sportswear industry. This characterization points to the company's capability for sustained double-digit growth in both sales and profits, attributed to a well-defined and consistently executed expansion strategy. However, the firm acknowledged that short-term challenges might continue to exert pressure on the stock until more definitive positive developments materialize. Anticipated catalysts include favorable future guidance, strong first-quarter trends, and a potential investor day event that could further illuminate the company's prospects.
Adding to the positive sentiment, Stifel analyst Jim Duffy reaffirmed a 'Buy' rating for On Holding on January 28, maintaining a price target of $60 per share. Duffy's decision was significantly influenced by the company's announcement of a new Chief Financial Officer. Frank Sluis is set to assume the CFO role on May 1, 2026, following an extensive search initiated in April 2025 to separate the previously combined CEO/CFO responsibilities held by Martin Hoffmann. Stifel emphasized Sluis's strong background, particularly his experience in managing large-scale global consumer businesses at Ahold Delhaize, noting that his expertise aligns perfectly with On Holding's significant market opportunities.
On Holding AG is renowned for its premium athletic footwear, apparel, and accessories, with its patented CloudTec cushioning technology being a key differentiator. The company's innovative product offerings and strategic business decisions are continually attracting positive attention from the investment community, positioning it as a significant player in the global athletic market.