Lamb Weston price target raised to $88 from $77 at Wells Fargo

Wells Fargo raised the firm’s price target on Lamb Weston (LW) to $88 from $77 and keeps an Overweight rating on the shares. The firm notes Lamb Weston shares popped +10% on Friday’s news that activist JANA acquired a 5% stake, a potential positive catalyst for accelerated strategic action. Near-term debates remain, but Wells is optimistic for eventual turnaround.