Oatly Group upgraded to Buy at Mizuho with bearish sentiment at peak

As previously reported, Mizuho analyst John Baumgartner upgraded Oatly Group to Buy from Neutral with a price target of $6, up from $2.50. He views the company’s recently announced manufacturing agreement as positive given how it enhances visibility into the pivot outlined in November, said Baumgartner, who thinks liquidity tightness "appears manageable." Improving capacity should accelerate Oatly growth and he sees upside to consensus through FY24, giving the stock "ample room for multiple expansion," Baumgartner added.