On Holding AG (ONON) PT Raised to $70 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the price target on On Holding AG (NYSE: ONON) to $70.00 (from $60.00) while maintaining a Outperform rating.

The analyst comments "1Q25 was a solid print, particularly on topline growth. Adj EBITDA at CHF120m was well above Consensus CHF110m, and ISIe CHF112m. As expected, tariffs and global cross currency pressures vs the Swiss Franc caused ONON to lower the EBITDA margin range for the year. But as we also expected in our preview, 1Q demand was far better than Street models anticipated, resulting in ONON raising its underlying rev growth target for the year to >+28% from >+27% prior…a very strong signal after only 1 quarter, and with both potential macro volatility or elasticity risk to come as the brand starts to move prices. We maintain our Outperform rating on 1Q strength."

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