UBS cut its target for On but kept its Buy rating. Those views point in different directions, and the report gives no new facts about On's business.
A lower target points to a less favorable view of On shares. Keeping the Buy rating points the other way. Neither statement reports a change in On's sales, profits, or plans, so the article gives no clear reason to change its outlook.
UBS changed its target for On but kept its Buy rating. The report gives no new information about UBS's own business, so it does not change UBS's outlook.
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