TD Cowen initiated coverage of Lamb Weston with an Outperform rating and $125 price target. Given its leadership position in the high-growth, highly consolidated global frozen potato industry, Lamb Weston is an excellent long-term investment in staples, the analyst tells investors in a research note. While many investors are cautious about management’s tempered outlook for restaurant traffic in FY24, the firm expects a rebound in FY25 from capacity expansion, mix tailwinds, and compelling product innovation.
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