Atlantic Equities Downgrades This Oat Drink Company Citing Limited Visibility

by Shivani Kumaresan, Benzinga Staff Writer

November 22, 2021 12:57 PM | 1 min read | Make a Comment

Atlantic Equities analyst Edward Lewis downgraded Oatly Group AB OTLY to Neutral from Overweight with a reduced $11.50 price target, suggesting a 24% upside.
Lewis said the investment case for the plant-based milk category "is not in doubt, but the case for Oatly as the best way to play the space is now in question."
The analyst added that with the company's Q4 set to come in 15% below prior expectations on delayed distribution gains visibility, visibility into its near-term performance is limited.
Oatly's outlook "feels binary and visibility is limited," Lewis notes.
Price Action: OTLY shares are trading lower by 7.67% at $9.28 on the last check Monday.