Lamb Weston price target raised to $68 from $66 at Wells Fargo

Wells Fargo raised the firm’s price target on Lamb Weston (LW) to $68 from $66 and keeps an Overweight rating on the shares. The firm notes Q1 delivery was strong with better underlying volume and cost momentum on top of some timing help. Despite upside, management held the guide, which Wells views as prudent given timing in the year, a still challenged operating environment and anticipated incremental costs.