Lamb Weston price target lowered to $104 from $106 at Citi

Citi lowered the firm’s price target on Lamb Weston to $104 from $106 and keeps a Buy rating on the shares ahead of the fiscal Q4 report on July 24. The analyst sees slight risk to the fiscal 2025 outlook and models sales and earnings below consensus. A slow volume recovery could be embedded in Lamb’s initial outlook, the analyst tells investors in a research note. Once the fiscal 2025 outlook is out of the way, Citi sees a more attractive set up for the shares, which it believes could benefit from volume recovery and multiple expansion.