10 Best Vegan Stocks to Buy According to Analysts

2. Oatly Group AB (NASDAQ:OTLY)

Analyst Upside: 168.46%

Number of Hedge Fund Holders: 12

Based in Sweden, Oatly Group AB (NASDAQ:OTLY) manufactures, distributes, and sells oat-based products. The company has been making oat-based dairy product alternatives since its inception, including milk, yogurt, ice cream, spreads, cooking creams, and to-go drinks. It distributes its oat-based dairy substitute products under its brand Oatly, available in over 65,000 stores and over 60,000 coffee shops in approximately 20 countries.

Oatly Group AB (NASDAQ:OTLY) is consistently developing into a stronger company. Its profitable growth focus delivered adjusted EBITDA at the favorable end of its guidance range in 2024. The company has exhibited a significant transformation over the past two years and now has a much healthier business with a clear strategy, clear accountability, stronger margins, and significantly improved profitability.

Management expects to drive its first full year of profitable growth in 2025, anticipating constant currency revenue growth of 2% to 4%. Oatly Group AB’s (NASDAQ:OTLY) median price target of $8.94 implies an upside of 168.46% from current levels. It ranks second on our list of the best vegan stocks to buy according to analysts.