UBS analysts raised their price target for On Holding AG (NYSE:ONON) to $73.00 from $65.00, while reaffirming a Buy rating on the stock. The bullish revision reflects increased confidence in the company’s long-term growth trajectory following its strong fourth-quarter performance.

On Holding continues to focus on innovation, athlete partnerships, and direct-to-consumer sales while maintaining its premium brand positioning. These strategic efforts are expected to drive industry-leading sales growth and consistent earnings outperformance.

The latest quarterly results indicate that the company is progressing ahead of its medium-term financial targets set at its 2023 Investor Day. UBS forecasts On Holding to achieve compound annual growth rates (CAGRs) of 20% in sales, 23% in EBITDA, and 19% in earnings per share over the next five years.