BofA analyst Peter Galbo lowered the firm’s price target on Lamb Weston (LW) to $47 from $49 and keeps a Neutral rating on the shares. After a “solid” Q3 beat across sales, gross margin and adjusted EBITDA, the firm raised earnings estimates for FY26, FY27 and FY28 to reflect more disciplined SG&A control. However, the firm lowered its multiple to balances Lamb’s shorter-term headwinds, tough restaurant traffic backdrop and peer multiples re-rating lower against what appear to be stabilizing gross margin trends, the analyst tells investors.
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