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Fly News Breaks for January 5, 2020
LW
Jan 5, 2020 | 19:14 EDT
Stifel analyst Christopher Growe downgraded Lamb Weston to Hold from Buy with a price target of $92, up from $81. The frozen potato supplier closed Friday up $9.47, or 11%, to $93.53. The analyst cites valuation for the downgrade following Friday's share rally. Lamb Weston reported "strong" Q2 results on Friday while maintaining a positive and above consensus outlook for the business, Growe tells investors in a research note. The analyst, whose estimates remain ahead of the company's guidance and the consensus, now sees "more modest upside for the shares from this premium valuation level."
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