Lamb Weston price target lowered to $67 from $83 at BofA

BofA lowered the firm’s price target on Lamb Weston (LW) to $67 from $83 and keeps a Neutral rating on the shares. Global competition for french fries has intensified, with new competition spurred by attractive category growth and the financial profile of Lamb Weston, the analyst tells investors. Noting that Q2 results disappointed “across the board,” the firm argues that the company’s new CEO has “wood to chop” and understands investor concern that an outside replacement was not brought in given the “gravity of issues occurring at present.”