Wall Street Analysts Believe On Holding (ONON) Could Rally 40.14%: Here's is How to Trade

Core Viewpoint - ON Holding (ONON) shows potential for significant upside, with a mean price target of $60.68 indicating a 40.1% increase from the current price of $43.3 [1] Price Targets - The average price target consists of 22 estimates, ranging from a low of $30.00 to a high of $85.00, with a standard deviation of $10.3, indicating variability among analysts [2] - The lowest estimate suggests a decline of 30.7%, while the highest indicates a potential upside of 96.3% [2] - Analysts' price targets can often mislead investors, as empirical research shows they rarely indicate actual price movements [7][10] Analyst Sentiment - There is strong agreement among analysts regarding ONON's ability to report better earnings, which supports the expectation of an upside [4][11] - Over the past 30 days, five earnings estimates have been revised upward, leading to a Zacks Consensus Estimate increase of 89.2% [12] Zacks Rank - ONON holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for near-term upside [13] Conclusion - While the consensus price target may not be a reliable indicator of the extent of potential gains, the direction it implies appears to be a useful guide for further research [14]