Goldman Sachs raised the firm’s price target on Lamb Weston to $107 from $97 but keeps a Neutral rating on the shares. The company’s Q3 results yet-again comfortably exceeded elevated expectations, with strong price/mix driving both a top line beat and stronger margins, the analyst tells investors in a research note. Lamb Weston continues to show strong execution in improving plant efficiencies and driving significant pricing actions amidst an uneven and inflationary macro environment, but the firm remains mindful that with margins already reaching new highs, sustaining significant incremental actions in FY24 and beyond could prove increasingly challenging, Goldman Sachs added.
Published first on TheFly
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