Shares of Oatly (OTLY) may be down more than 88% since its IPO in 2021, but one analyst expects the plant-based beverage giant to see a turnaround in 2023.
“From a company perspective, we think bearish sentiment has peaked, fundamentals have bottomed,” said Mizuho Analyst John Baumgartner.
“In 2023, we expect supply chain acceleration, new distribution growth, acceleration in Asia from the improved COVID situation in China, as well as better commodity costs, and also an improving liquidity…
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