Why Wall Street Is Bullish on On Holding AG (ONON)?

On Holding AG (NYSE:ONON) is one of the best foreign stocks to buy right now. On February 3, Bernstein SocGen Group reaffirmed its Outperform rating on On Holding AG (NYSE:ONON) and left the price target unchanged at $70. The firm pointed out that ONON is one of the most dislocated stocks in sportswear. In other words, On Holding’s price has dropped more than it should have, down 15% in 2025, even though the company posted blowout results that year.

Bernstein called On Holding the most compelling LT compounder in Global Sportswear. This means the company is capable of growing sales and profits by double digits over time, thanks to a solid plan for steady expansion. Nonetheless, the firm noted that short-term issues could keep pressuring the stock until positive events happen. Some of the positive events the analysts are looking forward to include constructive guidance, strong Q1 trends, and a potential investor day.

Separately, on January 28, Stifel analyst Jim Duffy reiterated a Buy rating on On Holding, and also kept the $60 per share price target. Duffy said his action was influenced by On Holding’s announcement of a new Chief Financial Officer.

Frank Sluis, the new CFO, will kick off his term on May 1, 2026. His appointment came after an extensive search that began in April 2025 to split the combined CEO/CFO role previously held by Martin Hoffmann. Stifel highlighted Sluis’s background, and particularly pointed to his experience managing scaled global consumer businesses at Ahold Delhaize. The firm said this experience aligns with On Holding’s market opportunity.

On Holding AG (NYSE:ONON) is a Swiss company that designs and manufactures premium athletic footwear, apparel, and accessories. The company is best known for its patented CloudTec cushioning technology.

While we acknowledge the potential of On Holding AG (NYSE:ONON) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ONON and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.