Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

UBS sees a whopping 80% upside in this shoe stock

By: Invezz
on holding stock price forecast ubs analyst

On Holding AG (NYSE: ONON) has lost nearly 10% over the past three weeks but a UBS analyst is convinced it’s positioned for a massive rally in 2024.

On Holding stock is headed for $51

Jay Sole named the shoe company a top pick for this year on Tuesday and said its shares could climb to $51 which suggests a whopping 80% upside from here.

The analyst expects On Holding to grow its per-share earnings at an annualised compound rate of 43% over the next five years. His research note also reads:

The market sees On Holding as mainly a running shoe brand and doesn’t fully appreciate the brand’s potential to address a much larger market.

He’s bullish on On Holding stock also because the company topped Street estimates in its latest reported quarter.

Watch here: https://www.youtube.com/embed/KHwfi9kBGbE?feature=oembedOn Holding is gaining market share

Jay Sole likes On Holding particularly for its direct-to-consumer model. He expects the Swiss firm to have a strong 2024 as it continues to focus on innovation and brand image.

The UBS analyst is positive because the New York listed firm is gaining share in developed economies as well. $ONON, he added, deserves a “premium multiple” as it’s “Softlines’ best growth stock”.

Note that the running shoes maker has a strong product pipeline and plans on expanding into new categories and countries this year.

Sole does not expect the Red Sea attacks to meaningfully hurt its margins either. On Holding stock does not, however, pay a dividend at writing.

The post UBS sees a whopping 80% upside in this shoe stock appeared first on Invezz

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.