BofA upgraded On Holding to Neutral from Underperform with a price target of $55, up from $21. The company reported Q2 revenue growth of 29% with retail growth accelerating at the start of Q3, the analyst tells investors in a research note. The firm says this makes On one of the fastest growing brands across European sporting goods and consumer discretionary overall. “Strong brand heat” and white space opportunities are helping to fuel top line growth, which is also translating into higher margins, contends BofA. It cites On’s ongoing strong growth for the upgrade.