Oatly Group downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Oatly Group to Neutral from Overweight without a price target. While the firm a sees a “number of potential positives ahead,” it no longer feels comfortable recommending the stock “given the level of uncertainty ahead.” Oatly’s Asia fundamentals are much softer than expected is a “blow to the growth thesis,” which should be reflected in the stock’s valuation, the analyst tells investors in a research note. The firm says its confidence that Asia can ever expand as quickly as previously hoped has been impaired.