Lamb Weston price target raised to $80 from $65 at Stifel

Stifel raised the firm’s price target on Lamb Weston (LW) to $80 from $65 and keeps a Hold rating on the shares. The firm’s estimates are below consensus for Hershey (HSY), Campbell (CPB), and Mondelez (MDLZ), the analyst noted in a preview for the packaged and prepared food group. The group trades a valuation that is a discount to history, primarily reflecting the uncertain volume recovery trajectory and reinvestment requirements, the analyst noted.