Oatly Group price target adjusted to $10 at Barclays after reverse split

Barclays analyst Andrew Lazar adjusted the firm’s price target on Oatly Group (OTLY) to $10 from $1 and keeps an Overweight rating on the shares after the company completed a 1-for-20 reverse stock split last week. In light of more modest growth prospects of the plant-based milk category and oat milk within that, the firm has also adjusted its assumptions for net sales growth and the expected pace of EBIT margin expansion, the analyst tells investors.