ONON Needham raised the firm's price target on On Holding to $40 from $37 and keeps a Buy rating on the shares. Amid a challenging athleticwear environment, On provided a compelling multi-year roadmap, with 3-year financial targets that exceeded Street expectations, the analyst tells investors in a research note. The management seems to have threaded the needle nicely and offered an outlook that is both bullish and believable, the firm added.