TD Cowen analyst Robert Moskow lowered the price target on Lamb Weston (NYSE: LW) to $40.00 (from $55.00) while maintaining a Hold rating.

The analyst comments "The company plans to evaluate opportunities to improve its business in international markets, led by newly appointed Executive Chair, Jan Craps. Craps brings deep global operating experience from Budweiser APAC and plans to share his perspectives on the next earnings call. We interpret this as a more rigorous assessment of Lamb's ability to compete effectively in international markets, defining where it has a durable competitive advantage (e.g. its Columbia Basin presence in the U.S.) and where its capabilities may need to be upgraded, rationalized, or exited. We note that these efforts align with activist investor Starboard's public comments last month calling for a strategic review of their International business, particularly APAC."