Stifel lowered the firm’s price target on Lamb Weston to $115 from $130 and keeps a Buy rating on the shares. Lamb Weston reported a weaker-than-anticipated third quarter featuring more disruption from its enterprise resource planning transition, softer traffic trends at restaurants, and an additional charge associated with excess potatoes, the analyst tells investors in a research note. The firm expects volumes to remain challenged in the fourth quarter and into FY25, versus the previous expectation for volume inflection to take hold in the fourth quarter.
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