ON Holding AG posts strong Q1 results, raising 2026 EBITDA forecast with 90% stock upside potential.

ON Holding AG reported strong Q1 earnings with growth across all sales channels, markets, and product categories. The company’s expansion in China and rising sales of apparel and accessories highlight significant long-term growth opportunities. Profitability improved due to ONON's strong brand power, prompting an upward revision of its 2026 EBITDA guidance. Despite these positive developments, the market undervalues ONON’s growth potential, suggesting a possible 90% upside in its stock price to $61.7.