Why Rayonier Advanced Materials Shares Are Surging Today

July 18, 2022 3:41 PM | 1 min read | Make a Comment

RBC Capital analyst Paul C. Quinn has upgraded the ratings on Rayonier Advanced Materials Inc 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.