Lamb Weston price target lowered to $70 from $98 at Wells Fargo

Wells Fargo lowered the firm’s price target on Lamb Weston to $70 from $98 and keeps an Overweight rating on the shares. A Q4 shortfall and cautious outlook led shares down 28% and Lamb Weston now feels in deep value territory, and Wells sees debate on how much reset is baked into the guidance and visibility to second half volume recovery, the analyst tells investors in a research note.