- RBC Capital analyst Paul C. Quinn has upgraded the ratings on Rayonier Advanced Materials Inc (NYSE:RYAM) to Outperform from Sector Perform and lowered the price target to $5 (an upside of 60%) from $6.
- While the unexpected management changes have weighed significantly on the company's share price, the analyst believes RYAM should benefit from continued strength in pulp pricing.
- The analyst thinks Rayonier Advanced has time to improve operations before its 5.5% Senior Notes maturity in June 2024.
- Quinn expects RYAM will meet its 2022 guidance of EBITDA with solid 2H22 operating results.
- Price Action: RYAM shares are trading higher by 10.99% at $3.13 on the last check Monday.
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