Lamb Weston price target lowered to $106 from $132 at Citi

Citi analyst Thomas Palmer lowered the firm’s price target on Lamb Weston to $106 from $132 and keeps a Buy rating on the shares. Following the Q3 miss and below-consensus guidance, many investors expressed disappointment that the company’s volume challenges were not better telegraphed, the analyst tells investors in a research note. The firm says that while the stock “could remain in the proverbial penalty box,” Lamb Weston’s fiscal 2025 EBITDA outlook implies a sizable year-over-year rebound. The firm sees “plenty of upside potential in the shares, even if the valuation does not rerate back to historic norms.”