The stock closed up 26p, or 5.2%, at 528p yesterday after analyst Wayne Brown outlined why he believed the Cumbernauld business offered a good buying opportunity.
Mr Brown, a Canaccord consumer analyst, suggested the 7.5% dip in AG Barr's share price in the past three months was "undeserved", especially following a strong set of interim results. There are also said to be a number of positive factors on the horizon at the soft drink maker.
Mr Brown said: "The continued favourable weather into September suggests the group could be tracking ahead of our expectations.
"We next hear from AG Barr in early December. Whilst the comparative period (18 weeks to December 1 2012) saw revenues grow 9%, the company has a very strong track record of volume growth outstripping price and the recent opening of its new manufacturing facility should provide a further boost to supply."
The AG Barr facility in Milton Keynes is expected to lead to cost savings in areas such as distribution while also helping the company meet growth demands.
Mr Brown indicated AG Barr, headed by chief executive Roger White, has increased its production capacity by 70% since 2006 but only added 30% more production lines.
A further four lines are still to be installed at Milton Keynes which will also aid growth prospects at the Irn-Bru maker.
Mr Brown said: "Our confidence that AG Barr can maintain (if not exceed) its long term return profile is also supported by the performance of those companies in the soft drinks universe that are brand owners.
"With cash forecast to grow ... within 18 months, the company is in an enviable position to target [mergers and acquisitions], increase cash returns to shareholders or increase investment to drive higher levels of organic returns."
AG Barr's other brands include Rubicon, Tizer and Strathmore.