Wells Fargo analyst Marc Torrente raised the firm’s price target on Lamb Weston to $77 from $70 and keeps an Overweight rating on the shares. The firm notes that Q1 incremental positives plus welcomed capacity/cost plans helped deflect another cut. Wells thinks shares get more interesting into the second half of the year as visibility improves and leverage materializes on re-based operations. But cost/pricing debates remain an overhang near-term, it adds.
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