After a significant 25% drop in its stock price within a week, Lamb Weston, a leading frozen French fries producer, might be presenting an undervalued buying opportunity at $80 per share. Despite facing challenges such as missing Q3’24 earnings expectations, lowering its future outlook due to enterprise resource planning system transition issues, and experiencing volatility in stock returns, the company's long-term fundamentals could be appealing. Lamb Weston reported a 16% revenue increase in Q3’24, mostly thanks to its LW EMEA acquisition, highlighting potential growth areas despite a sales decline in North America and mixed international results affected by the ERP transition. With the stock trading at 1.8x trailing revenues, significantly below its 5-year average, and expectations for revenue and earnings adjustments for fiscal 2024, there's speculation that the recent price correction might not be justified. Considering Lamb Weston's solid 33% year-over-year growth for the nine months ending in February 2024, investors could see this as an opportune moment to invest in a stock that may offer substantial long-term gains if it returns to its historical price-to-sales multiple.

Subtopics:
- Lamb Weston Q3'24 earnings
- Stock Price Drop and Valuation
- ERP Transition Impact
- Future Earnings and Revenue Outlook
- Investment Opportunity