Nike Upgraded to Buy as Bank of America Sees New Products Fueling Comeback [BNN Bloomberg (Canada)]
On Holding AG (ONON)
Company Research
Source: BNN Bloomberg
Analyst Lorraine Hutchinson upgraded her recommendation to buy after spending almost three years on the sidelines with a neutral rating. Hutchinson, who also lifted her price target on the stock to $113 from $110, noted that Wall Street's projections for profit in fiscal 2025 have come down 35% over the last two years. The company's plans to turn its business around by focusing on product innovation and reducing some styles will be painful in the short term, but have important implications for the longer-term health of the brand, Hutchinson said. “This caused a proactive guide-down of 1H25 sales, which we think catalyzed the final cut to consensus estimates,” Hutchinson wrote in a note to clients on Thursday. Nike last month warned investors that sales would take a hit as the company worked on responding to growing challenges coming from upstart running-shoe brands, such as On Holding AG and Hoka, a brand owned by Deckers Outdoor Corp. that has exploded in popularity in recent
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ONON
News
- On Holding AG (NYSE: ONON) had its price target raised by analysts at TD Cowen from $36.00 to $38.00. They now have a "buy" rating on the stock.MarketBeat
- On to Release First Quarter 2024 Results on Tuesday, May 14, 2024 [Yahoo! Finance]Yahoo! Finance
- On to Release First Quarter 2024 Results on Tuesday, May 14, 2024Business Wire
- Analyst Expects Net Loss of 45K Stores Over the Next Few Years [Yahoo! Finance]Yahoo! Finance
- On Holding AG (NYSE: ONON) had its "outperform" rating re-affirmed by analysts at Telsey Advisory Group. They now have a $37.00 price target on the stock.MarketBeat
ONON
Earnings
- 3/12/24 - Miss
ONON
Sec Filings
- 4/2/24 - Form 144
- 4/2/24 - Form 144
- 3/28/24 - Form 6-K
- ONON's page on the SEC website