Shares of oats-based products provider Oatly Group (NASDAQ:OTLY) are trending upwards today after the company announced a key partnership with McDonald’s (NYSE:MCD) in Austria.
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Under the partnership, beginning this month, the Oatly Barista Edition will be available across all McCafe locations in Austria.
The move is aimed at converting new customers from dairy to plant-based offerings and enables the company to introduce its milk alternative product to a wider audience.
Further, the development comes fresh on the heels of Oatly posting its fourth quarter numbers and receiving financing commitments of nearly $425 million.
Overall, Wall Street has a consensus price target of $3.95 on OTLY, implying a massive 71% potential upside in the stock. That’s after a nearly 56% slide in the share price over the past 52 weeks.
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