Oatly soars after laying out plan to boost production during investor meeting

Oatly Group AB (OTLY) rallies after the company issued a positive update during an investor meeting with Bank of America.

Oatly management expressed confidence in the company's ability to meet the growing demand for the oat milk products.

Key takeaways from the OTLY-BofA meeting include Oatly saying that its main priority is to ramp production and continue to build capacity for oat milk, and that demand for oat milk shows no signs of slowing down. OTLY's manufacturing process is also noted to be highly differentiated versus peers to give it an edge versus competitors. Capping of the high points, white space opportunities for oat milk are seen by management.

BofA has a Buy rating on Oatly (NASDAQ:OTLY).

OTLY trades at its highest level in two weeks, but is still down 38% from its IPO high.