TD Cowen downgraded Lamb Weston to Hold from Buy with a price target of $61, down from $105, post the fiscal Q4 report. The firm says the thesis it laid out last year regarding tight potato processing industry capacity utilization, strong pricing power, and Lamb Weston enhancing its mix by walking away from unprofitable business did not play out. Lamb’s outlook for fiscal 2025 indicates significant price concessions to regain market share in a declining volume backdrop, the analyst tells investors in a research note.
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