Lamb Weston price target lowered to $98 from $128 at Wells Fargo

Wells Fargo analyst Marc Torrente lowered the firm’s price target on Lamb Weston to $98 from $128 and keeps an Overweight rating on the shares. The analyst says the company’s fiscal Q3 faced acute internal and external headwinds. Visibility is an issue into fiscal 2025, which will cap the stock’s multiple near term until demand trends normalize, the analyst tells investors in a research note. The firm believes it could take time to restore investor confidence on the Lamb Weston volume outlook as away-from-home consumption softens while at-home shows some stabilization.