Oatly Group AB (OTLY) PT Lowered to $2.83 at Jefferies

Jefferies analyst Kaumil Gajrawala lowered the price target on Oatly Group AB (NASDAQ: OTLY) to $2.83 (from $2.85) while maintaining a Buy rating.

The analyst commented: "Strong quarterly performance led by strength in both Europe & International and North America segments, offset by weakness in China. '24 guidance remains unchanged as the company continues to focus on driving top-line growth while expanding margins through SG&A management. We believe Oatly is progressing in-line with expectations, which should be a modest positive for shares."

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