Lamb Weston price target raised to $80 from $68 at BofA

BofA analyst Peter Galbo raised the firm’s price target on Lamb Weston (LW) to $80 from $68 and keeps a Neutral rating on the shares after activist investor JANA Partners filed a form 13-D disclosing a stake of 5% in Lamb Weston and stated its intentions to have discussions with the board and management regarding the company’s “litany of self-inflicted missteps.” Given Lamb Weston’s poor stock performance year-to-date, the firm says it is “unsurprised by the announcement,” adding that it believes Continental Grain’s involvement along with JANA “adds weight given the formers expertise in the agricultural industry.”