UPDATE: Piper Sandler Starts Oatly Group AB (OTLY) at Overweight

June 14, 2021 4:25 AM EDT
Get Alerts OTLY Hot Sheet
Price: $18.50 +4.23%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 14 | New: 23
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(Updated - June 14, 2021 7:59 AM EDT)

Piper Sandler analyst Michael Lavery initiates coverage on Oatly Group AB (NASDAQ: OTLY) with an Overweight rating and a price target of $30.00.

The analyst commented, "We initiate coverage of Oatly with an OW rating and a $30 target. We believe Oatly'sbrand equity and pricing power (30-40% premium to competitors) set it apart in the space, and believe it warrants a valuation premium. The TAM is significant, and we expect oatmilk to continue gaining share. Its growth is limited by capacity, but we expect relief in the coming years, which also drives margin expansion (we estimate in-house production gross margins could be twice or more of those with co-manufacturers). Its ESG credentials are also impressive (80% less carbon emissions, 60% less energy usage vs. cow's milk)."

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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