OTLY - Oatly jumps after Morgan Stanley calls a bottom and says valuation is attractive

Morgan Stanley upgrades Oatly Group AB (NASDAQ:OTLY) to an Overweight rating despite setting lower estimates on the company. The upgrades follows a 35% drop in Oatly's (OTLY) share price over the last six weeks. Analyst Dara Mohsenian: "To be clear our upgrade is more tied to the stock's near 70% pullback from highs, which is overdone in our minds, with valuation not reflecting still strong, albeit a lower modeled revenue growth opportunity." Mohsenian and team note that Oatly's issues appear to be more related to temporary production/supply delays than underlying consumer demand. Looking ahead, Oatly (OTLY) is seen as a solid topline growth story with topline growth CAGR of 60% forecast through 2023 and a low double-digit percentage longer term beyond 2025. Strong growth in the attractive oat milk category and OTLY's market share gains are expected to support the growth story. Shares of Oatly (OTLY) are up 4.24% in

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Oatly jumps after Morgan Stanley calls a bottom and says valuation is attractive