Is On Holding Stock Going to $45? 1 Wall Street Analyst Thinks So.

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Is On Holding Stock Going to $45? 1 Wall Street Analyst Thinks So.

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Is On Holding Stock Going to $45? 1 Wall Street Analyst Thinks So.: https://g.foolcdn.com/editorial/images/777420/on-holding-cloudmonster-shoe.jpg

After seeing sales rise by 55% in 2023, On Holding (NYSE: ONON) had a strong start to 2024 as well, reporting first-quarter results on May 14. That helped Needham analyst Anna Andreeva boost her optimism for the stock in a report released this week.

Andreeva reiterated her buy rating on shares of the Swiss outdoor footwear and apparel company and raised the price target from $40 to $45 per share. That projected share price is about 25% higher than where the stock recently closed, even after it jumped when the company reported Q1 results. It would also be the stock's highest level since just after the company's initial public offering (IPO) in late 2021.

Source Fool.com

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