Lamb Weston price target raised to $65 from $62 at Bernstein

Bernstein raised the firm’s price target on Lamb Weston (LW) to $65 from $62 and keeps a Market Perform rating on the shares. Over the past 15 years, the U.S. packaged food sector seems to have lost its way, the firm says. But if companies were able to deliver packaged foods made with simpler ingredients that growing numbers of consumers trusted, in categories that deliver solid nutritional benefits, Bernstein believes the sector really could get back on its feet in a more sustainable way and stop losing market share to smaller challenger brands. Moreover, I believe that some of the pressures could be short lived.