Lamb Weston downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Lamb Weston to Neutral from Overweight with a price target of $68, up from $63. The firm now views the risk/reward on the stock as balanced. Restaurant demand remains sluggish, with Europe having worsened and the U.S. quick service industry’s growth improving mostly on the second derivative, the analyst tells investors in a research note. JPMorgan adds that it is harder than usual to forecast demand right now, given how much depends on an improved and more confident consumer. Even if demand starts to improve, there’s no guarantee it expands at the same rate as global supply, it adds.