Lamb Weston Stock Sees Price Target Cut by JPMorgan Alongside Industry Strains

Lamb Weston Holdings, Inc. (NYSE:LW) is one of the stocks on Jim Cramer’s and analysts’ radar. On August 20, JPMorgan assumed coverage of Lamb Weston stock with a Neutral rating and set a price target of $57, lowered from $66. The firm initiated coverage on 24 stocks across food producers, food retail, and agricultural products. The analyst noted that food producers are under pressure from slower center store growth and market share declines. Food retailers are expected to benefit from ongoing inflation. The firm also stated that agricultural product companies may be through the worst of their earnings pressures, though a recovery depends on pending U.S. biofuels regulations.

Lamb Weston Holdings, Inc. (NYSE:LW) produces and markets frozen potato products under its own, licensed, and customer brands. Lastly, replying to a caller’s question about the stock on August 7, Cramer remarked:

“Lamb Weston, man… I gotta tell you, I think it’s interesting because there’s a lot of people circling it, but I hate to buy a stock just because I’m hoping for a takeover. So I’m going to steer you away from that stock and from that group, which is really a nightmare.”

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Disclosure: None. This article is originally published at Insider Monkey.