On Holding is poised for a bounce due to its resilient growth, supported by the sports accessories firm's ability to raise prices on its products, according to Raymond James. The investment firm upgraded the retail name to strong buy from outperform. It also has a $52 price target on shares, suggesting 42% upside from Wednesday's close. "Growth should remain strong (supported by our checks), FX should be less of a drag," Rick Patel said Thursday in note to clients. "Pricing power can offset tariff/freight headwinds." On Holding has recently pulled back, making now a good time to scoop up shares, the analyst added. The stock is down more than 21% in the year to date as investors weigh the impacts of an upcoming leadership shakeup on the retailer. Earlier this year, On Holding CEO Martin Hoffmann said in a statement that he would step down from his role on May 1. ONON YTD mountain Shares of On Holding are down 21% in the year to date. The stock's decline also comes amid a rise in macroeconomic uncertainties tied to the Iran war. Despite those headwinds, "long-term potential is intact," Patel wrote. He expects On Holding to lead considerable growth in athleisure and footwear in the current year. Raymond James' call is in line with consensus on the Street. Of the 29 analysts covering On Holding, 25 have a strong buy or buy on shares, LSEG data shows.
