What specifically did UBS change in its ONON analyst rating on Feb 19 2026?

UBS did not change its core stance; it **maintained a Buy** rating on **Feb 19, 2026** and reiterated a **$85.00** price target. The firm framed the call around consumer momentum ahead of On Holding AG’s Q4 report.

How should investors interpret a maintained Buy for On Holding AG?

A maintained Buy typically signals continued confidence without fresh conviction. It suggests upside potential remains under the analyst’s model, but it is not as impactful as an upgrade. Investors should weigh company fundamentals and other analyst views.

Does the UBS price target mean the stock will reach $85.00?

A price target is an analyst estimate, not a guarantee. UBS’s **$85.00** target implies upside versus current levels, but market dynamics and company performance can prevent realization. Use targets as one input among many.

Where can I track ONON analyst rating updates and detailed notes?

Track analyst notes on news services such as [StreetInsider](https://www.streetinsider.com/Analyst+Comments/UBS+Reiterates+Buy+Rating+on+On+Holding+AG+%28ONON%29+Ahead+of+Q4+Print/26027700.html) and [Investing.com](https://uk.investing.com/news/analyst-ratings/ubs-maintains-on-holding-stock-rating–-

Analyst Ratings

UBS Maintains Buy on On Holding AG (ONON) Feb 19 2026

ByHuzaifa Zahoor February 20, 2026

UBS maintained a Buy rating on On Holding AG (ONON) on Feb 19, 2026, marking the latest high-profile ONON analyst rating ahead of the company’s Q4 print. The firm kept a $85.00 price target and pointed to continued consumer momentum. This ONON analyst rating underscores UBS’s view of upside versus the current market consensus. Investors should note the firm reiterated its stance without upgrading or downgrading the stock, and the market moved modestly, down -0.36% or -$0.17 on the day of the release.