JPMorgan Upgrades Oatly, Sees Huge Upside

Shivani Kumaresan

Fri, Oct 8, 2021, 7:41 AM1 min read

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JPMorgan analyst Ken Goldman upgraded Oatly Group AB (NASDAQ: 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.

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JPMorgan Upgrades Oatly, Sees Huge Upside

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