$ONON

Analysts at Bank of America Securities reiterated Buy ratings on Trip.com Group (TCOM) and On Holding AG (ONON). TCOM has a $60 price target (vs. $40.43 close), while ONON has a $43 target (vs. $27.15 close). Both have Strong Buy consensus ratings with significant upside potential.

On Holding AG (ONON) shares fell 30.2% over three months, underperforming peers and indices. The decline is attributed to slower wholesale sales in the Americas. ONON trades at a P/S ratio of 2.02, above industry average. Management expects slower growth, with full-year sales projected at CHF 3.47B to CHF 3.56B. DTC growth and product innovation are key growth drivers, but geopolitical risks and estimate revisions raise concerns.

BMO Capital initiated coverage on Nike, Dick's Sporting Goods, Deckers Outdoor, and Lululemon with 'Underperform' ratings, citing shifting trends away from athletic wear. Analyst Kelly Crago expects weakening demand and inventory buildups, favoring stocks like Amer Sports and Steve Madden. Nike was rated 'Underperform' with a $30 price target, while Dick's, Lululemon, and Deckers also received 'Underperform' ratings. Crago predicts a shift in demand from athletic to fashion footwear by 2026.

JPMorgan double-upgraded IREN Limited to Overweight with a $65 target, while GLJ Research initiated GE Vernova with a Sell rating at $470. Oil prices dropped over 2%, and crypto markets were volatile ahead of the Fed's rate decision. Analysts also upgraded Chime Financial and downgraded Accenture, among others.

On Holding AG (ONON) shares closed at $27.41, with a premarket price of $27.63. Analysts like Berenberg see potential in direct-to-consumer growth and inventory management, but wholesale weakness and revenue misses have led to skepticism. Technical indicators show strong sell signals. The next earnings release is expected on Nov 17, 2026, with consensus estimates of $0.38 EPS and $928.83M revenue.

JPMorgan upgraded Meta (META) to Overweight with a $820 target, citing AI-driven growth. Wells Fargo upgraded Synopsys (SNPS) to Overweight with a $475 target, and Yum! Brands (YUM) to Overweight with a $175 target. StoneX upgraded Block (XYZ) to Buy with a $105 target. Freedom Broker upgraded Caterpillar (CAT) to Buy with a $980 target. Arete downgraded Uber (UBER) to Neutral with a $74 target. Evercore ISI downgraded Chewy (CHWY) to In Line with a $25 target. William Blair downgraded Cooper Co

Morgan Stanley resumed coverage of sportswear brands, citing industry challenges and naming On Holding (ONON) as its only Overweight-rated stock with a $39 price target. Nike (NKE), Under Armour (UAA), and Adidas (ADDYY) were rated Underweight and Equal-weight, respectively, with varying price targets and outlooks. The firm noted sector-wide headwinds including fragmentation, promotions, and weak consumer sentiment.

BMO Capital initiated coverage on On Holding AG (NYSE:ONON) with a Market Perform rating and a $28 price target, citing strong brand and high margins but challenging growth ahead. The stock trades near its 52-week low. Recent analyst reports show mixed views on ONON's future performance, with some lowering price targets due to reduced revenue guidance and inventory management strategies.

On Holding (ONON) designs premium athletic gear, with footwear making up 93% of 2025 sales. Shares closed at $28.40 on Sept. 3, with a potential to triple in 7 years. The company trades at 13.6x forward earnings, down from 22.2x. Q2 sales missed expectations, but DTC sales grew 34.3% and gross margin expanded. Asia-Pacific sales jumped 54.7%, and apparel sales increased 56.2%. Management expects low-20% sales growth and 19.5%-20% EBITDA margin in fiscal 2026.

Republic Services (RSG) saw significant insider buying, including $562M in August, driven by Bill Gates' Cascade Investment, now holding 37% of shares. ON (ONON) insiders bought $4M after a 35% YTD decline and lowered growth guidance. Intel (INTC) insiders also signaled confidence despite recent underperformance.