Oatly Group price target lowered to $3 from $4 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on Oatly Group to $3 from $4 and keeps an Overweight rating on the shares post the Q2 results. The firm continues to believe in Oatly’s long-term outlook, driven by its brand strength, but says near-term headwinds in Asia brought down its outlook, and Asia headwinds from SKU rationalization will likely persist into the first half of 2024.