Oppenheimer Starts Oatly Group AB (OTLY) at Perform

June 14, 2021 6:08 AM EDT
Get Alerts OTLY Hot Sheet
Price: $14.01 -1.13%

Rating Summary:
    11 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 18 | New: 32
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Oppenheimer analyst Rupesh Parikh initiates coverage on Oatly Group AB (NASDAQ: OTLY) with a Perform rating.

The analyst comments "We are initiating coverage of Oatly (OTLY) with a Perform rating. OTLY is the world's largest oatmilk player. We believe the company has some of the brightest growth prospects in our coverage universe, and look quite favorably upon its brand, product assortment, and positioning to the on-trend plant-based dairy category. We see a path for strong double-digit sales growth over the next few years (2020-2023E CAGR of 68%). However, following the 60%+ rally in shares since the IPO, we believe the upside case is now priced in. OTLY shares now trade at ~24x our FY21 sales forecast. The story remains on our radar, and we await either positive material revisions to our L-T forecasts or a pullback to become more constructive on the story."

For an analyst ratings summary and ratings history on Oatly Group AB click here. For more ratings news on Oatly Group AB click here.

Shares of Oatly Group AB closed at $28.73 yesterday.

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