Lamb Weston price target lowered to $64 from $85 at Bernstein

Bernstein lowered the firm’s price target on Lamb Weston (LW) to $64 from $85 and keeps a Market Perform rating on the shares. The firm notes that recent rumors about being an acquisition target and activist calls for changes have led to a meaningful 2-week outperformance versus the rest of the U.S. Food universe. But weak earnings results will likely bring its stock back down to earth, says Bernstein.