Lamb Weston stocks was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $83.00 price target on the stock. Zacks Investment Research is an American company dedicated to the production of independent research and investment-related content.
According to a report by Highlight Press, Zacks says “Lamb Weston has outperformed the industry in a year, driven by its stellar record that was retained in third-quarter fiscal 2019. Both top and bottom lines grew year over year and topped estimates for the tenth straight time in the fiscal third quarter. While earnings gained from higher operating income, sales were backed by strong volumes and price/mix.”
Zacks mentions in its report that management at Lamb Weston anticipates to face headwinds like a poor potato crop at its European joint venture Lamb Weston / Meijer, although it expects to offset these through solid pricing and cost-saving initiatives. All said, the company raised its sales and adjusted EBITDA guidance for fiscal 2019.
Source: Highlight Press