Analyst Robert Dickerson of Jefferies reiterated a Buy rating on Lamb Weston Holdings (LW – Research Report), retaining the price target of $133.00.
Robert Dickerson has given his Buy rating due to a combination of factors affecting Lamb Weston Holdings. His optimistic outlook stems from the expectation that the company will effectively communicate the completion of their ERP project by March, alongside anticipated positive volume growth in Q4. This communication is seen as a key driver for the stock’s immediate performance. Additionally, Dickerson views Lamb Weston as a distinctive player in the food industry, with robust fundamental strengths that are not accurately reflected in its current market valuation, implying an attractive investment opportunity.
Moreover, Dickerson’s recommendation is influenced by his belief that Lamb Weston’s stock is currently undervalued and this mispricing is unwarranted. He suggests that once the Enterprise Resource Planning (ERP) system crossover concerns are addressed and the company demonstrates continued momentum into fiscal year 2025, investors will likely recognize the underlying value. The expectation of positive developments and strong core business metrics positions Lamb Weston favorably, justifying the Buy rating and suggesting potential upside for investors.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $128.00 price target.
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Lamb Weston Holdings (LW) Company Description:
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. The Foodservice segment comprises branded and private label frozen potato products sold throughout the United States and Canada. The Retail segment consists consumer facing retail branded and private label frozen potato products sold primarily to grocery, mass merchants, club, and specialty retailers. The Other segment compose of vegetable and dairy businesses. The company was founded on July 5, 2016 and is headquartered in Eagle, ID.
