Jefferies raised the firm’s price target on Lamb Weston (LW) to $95 from $80 and keeps a Buy rating on the shares, ahead of Lamb Weston reporting results on Thursday, calling it “a crucial quarter given shareholder support needs vis a vis JANA proposals/other potential buyer risk.” Following M&A reports, the firm’s “initial math” on a possible Post Holdings (POST) acquisition of Lamb suggests Post “could in fact take out Lamb for up to $115” per share, the analyst tells investors. Given Post Holdings’ supposed interest in Lamb per a recent Reuters article, and other bidders potentially in the wings, Q2 results are “one crucial step for standalone Lamb support,” the analyst added. Jefferies also raised its price target on Buy-rated Post shares to $135 from $126.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LW:
- Lamb Weston Holdings (LW) Q2 Earnings Cheat Sheet
- Honeywell still exploring alternatives, Capri weighs Versace sale: Morning Buzz
- Jana reiterates wanting leadership change or sale in letter to Lamb Weston board
- Options Volatility and Implied Earnings Moves This Week, December 16 – December 20, 2024
- Lamb Weston up 3% as Reuters reports on possible Post deal interest