Shares of Lamb Weston Holdings Inc. /zigman2/quotes/205501174/composite LW +0.70% hiked up 2.4% in midday trading Monday, after BofA Securities analyst Bryan Spillane recommended investors buy ahead of earnings, as the frozen potato products seller is set to approach pre-COVID levels amid pent-up consumer demand for eating out. Spillane raised his rating to buy from neutral, while lifting his stock price target to $100 from $84. His target now tops the list of highest targets of the 8 analysts surveyed by FactSet. "Overall restaurant demand is improving and we are seeing positive signals across quick serve restaurants (QSR) and foodservice operators that could drive margin-accretive revenue growth for [Lamb Weston] heading into FY22," Spillane wrote in a note to clients. He said food distributors are adding staff in anticipation of a strong rebound in foodservice sales, which are set to accelerate at demand improves. The company is expected to report fiscal third-quarter results before Wednesday's opening bell. In fiscal second quarter ended Nov. 29, foodservice sales fell 21% from a year ago while total sales fell 12%. The stock has edged up 1.5% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.65% has gained 8.6%.