8 Large Cap Stocks With More Than 50% Upside

7. On Holding AG (NYSE:ONON)

Analyst Upside: 57.24%

Market Cap: $13.77 billion

Number of Hedge Fund Holders: 42

On Holding AG (NYSE:ONON) is one of the best large cap stocks with more than 50% upside. On October 6, BofA analyst Thierry Cota slashed the price target on On Holding AG (NYSE:ONON) to $62 from $73 while maintaining a Buy rating on the stock.

The firm told investors that it expects 32% organic sales growth in fiscal Q3, as well as 21.5% in the “key” Americas region.

The analyst further stated that the risk perception on On Holding AG (NYSE:ONON) may rise, reasoning that if the company’s long-term outlook reflects team sports development, potentially presented at a CMD next year, it would be slower growth than running and come face to face with strong Nike and Adidas positions.

Cota thus reduced the price target on On Holding AG (NYSE:ONON) to take into account the risks associated with Nike and product diversification.

On Holding AG (NYSE:ONON) is involved in the development and distribution of sports products, including apparel, footwear, and accessories. The company sells its products across the globe through global distributors, independent retailers, an online presence, and its stores.