TD Cowen analyst Robert Moskow raised the firm’s price target on Lamb Weston (LW) to $79 from $67 and keeps a Hold rating on the shares after activist Jana Partners disclosed 5% stake. Jana, with the assistance of Continental Grain, plans to discuss strategic alternatives with Lamb’s board, among other topics, the analyst tells investors in a research note. The firm views this as positive, saying that at a minimum, it will heighten the company’s sense of urgency to improve its performance.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LW:
- Netflix reports Q3 beat, CVS CEO Lynch steps down: Morning Buzz
- Lamb Weston would benefit from private buyer, says Stifel
- Jana Partners confirms Lamb Weston stake, push for strategic alternatives
- Early notable gainers among liquid option names on October 18th
- Jana built 5% stake in Lamb Weston, to push for sale, WSJ reports
Questions or Comments about the article? Write to editor@tipranks.com