KeyBanc Cuts On Holding Price Target to $43: Tariff Concerns Pressure the Growth Story
Key takeaways
- The analyst who called NVIDIA in 2010 just named his top 10 stocks and On Holding wasn t one of them.
- An analyst firm is stepping back on price, but not on conviction.
- The price target cut on On Holding (NYSE:ONON) lands one day after the Swiss footwear brand delivered a sizable Q1 2026 beat.
Key Banc Cuts On Holding Price Target to $43: Tariff Concerns Pressure the Growth Story David Moadel Wed, May 13, 2026 at 10:41 PM GMT+7 3 min read ONON NVDA NKE Quick Read On Holding (ONON) delivered Q1 2026 revenue of $1.07B, beating estimates by 22% with 64% gross margin and Asia-Pacific revenue up 44% year-over-year, but absorbed $70.43M in tariffs during the quarter.
Key Banc cut its ONON stock price target to $43 from $58 due to tariff headwinds from Vietnam sourcing concentration, yet maintained an Overweight rating because the company’s 23%-plus growth guidance remains achievable and excludes potential tariff refunds.
The analyst who called NVIDIA in 2010 just named his top 10 stocks and On Holding wasn t one of them. Get them here FREE.