Wells Fargo raised the firm’s price target on Lamb Weston to $128 from $120 and keeps an Overweight rating on the shares. Lamb Weston’s Q2 was solid, but the firm thinks shares faded due to ERP-related volume impact and cost de-leveraging coming Q3, the analyst tells investors in a research note. Wells Fargo says this is transitory and sees building fundamental momentum at an attractive valuation, giving the stock runway.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LW:
- Lamb Weston price target raised to $130 from $115 at Stifel
- Lamb Weston price target raised to $132 from $125 at TD Cowen
- Early notable gainers among liquid option names on January 4th
- Lamb Weston raises FY24 adjusted EPS view to $5.70-$6.15 from $5.50-$5.95
- Lamb Weston reports Q2 EPS $1.45, consensus $1.41