Lamb Weston price target raised to $128 from $120 at Wells Fargo

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.