Stifel raised the firm’s price target on Lamb Weston (LW) to $80 from $65 and keeps a Hold rating on the shares. The firm’s estimates are below consensus for Hershey (HSY), Campbell (CPB), and Mondelez (MDLZ), the analyst noted in a preview for the packaged and prepared food group. The group trades a valuation that is a discount to history, primarily reflecting the uncertain volume recovery trajectory and reinvestment requirements, the analyst noted.
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Read More on LW:
- Lamb Weston price target raised to $88 from $77 at Wells Fargo
- Lamb Weston price target raised to $90 from $76 at Citi
- Lamb Weston price target raised to $80 from $68 at BofA
- Lamb Weston price target raised to $87 from $74 at Barclays
- Lamb Weston price target raised to $79 from $67 at TD Cowen
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