In a report released today, Akshay Jagdale from Jefferies maintained a Buy rating on Lamb Weston Holdings (LW), with a price target of $85. The company’s shares opened today at $79.
Jagdale observed:
“3Q sales, gross profit & EBITDA were better than expectations. Pricing power remains strong – 3Q price/mix of 3.3% was generally in line with our expectations. Volume growth of 4% was much better than expected particularly in the Global Segment owing to a pick- up in international growth, which is core to our EU shortage thesis. Guidance was also raised.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 4.7% and a 53.9% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as McCormick & Company, Conagra Brands Inc, and J & J Snack Foods.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lamb Weston Holdings with a $82.33 average price target.
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The company has a one-year high of $83.86 and a one-year low of $57.58. Currently, Lamb Weston Holdings has an average volume of 1.63M.
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Lamb Weston Holdings, Inc. engages in the production, distribution, and marketing of value-added frozen potato products. It operates through the following business segments: Global, Foodservice, Retail, and Other. The Global segment includes branded and private label frozen potato products sold in North America and international markets.