KeyBanc Cuts On Holding Price Target to $43: Tariff Concerns Pressure the Growth Story
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KeyBanc has reduced its price target for On Holding (ONON) stock from $58 to $43, citing concerns over tariffs that impacted the company's growth. Despite reporting Q1 2026 revenue of $1.07 billion, which exceeded estimates by 22% and a gross margin of 64%, ONON faced $70.43 million in tariffs during the quarter. Additionally, revenue from the Asia-Pacific region increased by 44% year-over-year.
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