ONON ▲ +2.3% - On Holding AG $ONON Wells Fargo initiated coverage of On Holding with an Overweight rating and $48 price target. The company is positioned to reaccelerate growth into 2027, the analyst tells investors in a research note. Wells believes On is "navigating the category disruption well." It is protecting the brand ahead of an innovation cycle and is positioned to benefit from accelerated peer share loss, contends the firm. Wells likes the stock's setup into 2027. 04-NOV-2026 07:29 AM ET