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Baird says the new-public on-holding is following in the footsteps of the new balance


According to Baird analyst Jonathan R. Comp, Holding AG is following a path carved by New Balance, which has pushed the new-public athletic company ahead of its 38 price target.

“On an early stage, it has shown impressive appeal across a geographic / channel / division with a larger address market ($ 300B) and possibly a new balance (সুযোগ $ 4B + long-term opportunity to follow in the footsteps of a personally managed brand) compared to other early-running brands.” -10 billion dollars, which has risen to the top long ago, ”Comp wrote in a note released Monday.

Baird said the brand has “wide appeal” and a “unique position” for the company’s origins. On,
+ 2.49%
It was founded by Olivia Bernhard, a patient athlete, and the company’s innovations focused on performance.

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“With profitable revenue growth at> 80% CAGR since inception, we see more opportunities to expand market share gains, direct-to-consumer expansion, and the fuel + 20-25% algorithm (and higher through 2024E) class,” he said. The note said.

JPMorgan has launched Overweight with a target price of 37.

“There are significant barriers to entry into an attractive industry and there is potential for high growth by health and casualization tailwinds,” analysts wrote.

“Importantly, we believe On is striking a balance between its performance roots (important for credibility in sportswear) and lifestyle (maximum for growth).”

JP Morgan notes that it has considered supply chain problems in Vietnam in its on-analysis. The wool shoes were made in that country for six months until June 2021.

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“Although the situation remains fluid, we expect any impact to be transient and driven solely by supply,” JPMorgan said.

“The underlying demand for the brand remains rather strong, and so we want to be opportunistic for any near-term supply chain-driven weakness. In the long run, we notice On’s premium price position and strong inflation as offset to inflationary pressures.”

The holding rate of the holding shares was bought with a target price of 36.

“We expect to recruit new loyal consumers of the brand to select word of mouth, growing awareness, new offers and new distributions,” wrote analysts led by Jim Duffy.

Steffel Nike Inc. NKE in a similar category,
-1.00%,
Lululemon Athletica Inc. LULU,
-2.00%
And VFC of VFC Corporation,
+ 2.32%
North Face, predicts an overlap between these brands.

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Started trading at ড 24 per share with IPO on 15 September. The stock traded above 30 30 on Monday.

Dutch Bros. Incorporated Bros.,
+ 16.44%
The business started that day too.

Renaissance IPO ETF IPO,
+ 0.29%
The S&P 500 index is down 1.2% for the year so far, during the SPX,
-0.16%
Increased 16.7% for the period.



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