- JPMorgan analyst Ken Goldman upgraded Oatly Group AB OTLY to Overweight from Neutral with a $21 price target, suggesting a 42.57% upside.
- The analyst likes the growth of plant-based dairy in general and the potential for oat milk to continue taking share from almonds and other varieties.
- For Oatley, Goldman models "very strong" sales "for the foreseeable future."
- The analyst states while Q3 sales estimates "need to drop a bit" and visibility on the company "remains low in general," the stock's current valuation "warrants a constructive outlook."
- Goldman values Oatly shares using a discounted cash flow analysis that points to a $21 fair value.
- Price Action: OTLY shares are trading higher by 5.43% at $15.53 in premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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