Sylvamo price target raised to $71 from $68 at BofA

BofA raised the firm’s price target on Sylvamo to $71 from $68 and keeps a Buy rating on the shares. Following post-quarter adjustments, the firm’s EPS estimates for 2024, 2025 and 2026 move to $6.75, $7.10, and $6.25, respectively. Benefits from reduced maintenance, seasonality and existing demand momentum should lead to stronger results into Q3, making the firm’s prior forecasts “look conservative,” the analyst tells investors.