Shares of Oatly (NYSE:OTLY) surged earlier in the day but have since given back most of their gains. This can be attributed to an analyst upgrade from Mizuho. Led by analyst John Baumgartner, the firm changed its rating from Hold to Buy while assigning a price target of $6 per share. For reference, the previous price target was $2.50.
Mizuho cited the recent manufacturing agreement with Ya YA Foods as a positive catalyst. In addition, Oatly’s liquidity tightness doesn’t appear to be too much for it to handle.
Overall, Wall Street analysts are bullish on OTLY stock with a Moderate Buy rating. In addition, the consensus price target of $3.86 implies 42.44% upside potential, as indicated by the graphic above.
