William Blair research analyst Dylan Carden was featured in sports business publication Sportico, where he discussed the investing outlook for On Holdings, backed by tennis legend Roger Federer.

“It has the best capacity among newer athletic footwear entrants to iterate on the product, with new launches in its core running franchise continuing to support a broader halo of category extensions, including apparel, tennis, training, and hiking,” Carden wrote in his note to investors that was cited by the publication.