Lamb Weston price target raised to $74 from $70 at Barclays

Barclays analyst Andrew Lazar raised the firm’s price target on Lamb Weston to $74 from $70 and keeps an Overweight rating on the shares. The firm thinks Lamb’s actions to reduce its available potato processing capacity in North America should be enough to get it closer to a low- to mid-90% capacity utilization rate in the region, even in the context of current weak quick service traffic trends. This should help support a rational, though still competitive, pricing environment, the analyst tells investors in a research note.