Shares of On Holding AG (ONON) took a surprising tumble in Wednesday's trading session, plummeting 5.06% despite a flurry of mostly positive analyst updates. The Swiss athletic footwear company's stock movement contradicted the generally optimistic outlook from Wall Street, leaving investors puzzled.
The day saw multiple prominent financial institutions raising their price targets for On Holding AG. UBS increased its target from $75 to $79, while Morgan Stanley upped its projection to $65 from $62. TD Cowen also joined the bullish chorus, lifting its target to $63 from $60. Raymond James and Barclays maintained their positive stance, reiterating Buy ratings with price targets of $66 and $69, respectively.
However, amidst this wave of optimism, Jefferies & Co struck a discordant note. The firm downgraded On Holding AG to Underperform from Hold and significantly lowered its price target to $40 from $50. This contrarian view appears to have overshadowed the positive sentiment, potentially triggering the sell-off. The stark contrast between Jefferies' bearish outlook and the broader market optimism highlights the current uncertainty surrounding On Holding AG's future performance, despite its average Buy rating and mean price target of $66.24 according to FactSet data.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。