Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Why Rayonier Advanced Materials Shares Are Surging Today

Published 18/07/2022, 20:41
Updated 18/07/2022, 21:40
© Reuters.  Why Rayonier Advanced Materials Shares Are Surging Today

  • 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.
Aug 2021RBC CapitalUpgradesSector PerformOutperform
May 2021RBC CapitalDowngradesOutperformSector Perform
Oct 2020RBC CapitalUpgradesSector PerformOutperform

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.