Lamb Weston: Potato harvest analysis yields mixed Wall Street results

Jefferies Wall Street market analyst, Akshay Jagdale, reiterated his Buy rating on shares of Lamb Weston (NYSE: LW) after analyzing the potato harvest in North America and Europe. The analyst stated “we are maintaining our positive view on industry fundamentals and continue to believe there is upside to FY18 guidance/estimates owing to better than expected price/mix, volume and JV earnings growth”. Despite the positive outlook, he did not update his view on pricing exceeding expectations but is incrementally positive on European potato COGS and neutral to slightly negative on NA potato COGS. No change to the price target of $53. Shares of Lamb Weston closed at $45.38 yesterday. For an analyst ratings summary and ratings history on Lamb Weston click here. For more ratings news on Lamb Weston click here. (Source: Streetinsider.com)