Oatly Group AB was raised to Overweight from Neutral by JPMorgan analyst Ken Goldman, who set a $21 price target, implying a 42.57 % upside.

The analyst is excited about the growing popularity of plant-based dairy in general, as well as the potential for oat milk to continue to overtake almond and other variants in terms of market share.Oatly Inc Logo Vector - (.SVG + .PNG) - GetLogoVector.Com

Goldman forecasts "very strong" sales for Oatley "for the foreseeable future."
While Q3 sales projections "need to drop a bit" and business visibility "remains low in general," the analyst believes the stock's current value "warrants a constructive outlook."

A discounted cash flow study by Goldman suggests a $21 fair value for Oatly shares.
In premarket trading on Friday, OTLY shares were trading 6.49 % higher at $15.70.