ON Holding Q1 earnings seen as potential catalyst for valuation re-rating, says UBS

ON Holding (NYSE:ONON)'s upcoming first quarter results could act as a catalyst for its valuation multiple, according to UBS, which expects solid underlying performance for the shoe-maker despite cautious investor sentiment. UBS said its channel checks indicate healthy revenue momentum in the first quarter, with sales growth likely to come in roughly 200 basis points ahead of expectations.