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Fly News Breaks for August 24, 2018
LW
Aug 24, 2018 | 09:27 EDT
Jefferies analyst Akshay Jagdale attributes the 6% pullback in shares of Lamb Weston since August 14 to fears surrounding a poor European potato crop and, to a lesser extent, concerns about global trade policies. While some near-term caution is warranted, the recent stock reaction is overdone, Jagdale tells investors in a research note. The analyst lowered his estimates to account for the "near-term transitory headwinds in Europe" but keeps a Buy rating on the shares with an $80 price target.
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