UPDATE: Jefferies Starts Oatly Group AB (OTLY) at Buy
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Jefferies analyst Rob Dickerson initiates coverage on Oatly Group AB (NASDAQ: OTLY) with a Buy rating and a price target of $34.00.
The analyst commented, "We initiate coverage on Oatly Group, the world's largest manufacturer of dairy alternative oat-based products, with a Buy rating and a $34 PT. Given the plant-based tailwind backing the brand along with a ~$900bn TAM, combined with a planned capacity expansion to drive margins and to meet heightened global demand, OTLY has a long runway for sustained, elevated growth and margin expansion vs. CPG peers, in our view."
Shares of Oatly Group AB closed at $28.73 yesterday.
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