Citi lowered the firm’s price target on Rayonier (RYN) to $25 from $32 and keeps a Neutral rating on the shares. The firm updated its North America lumber supply/demand model and price forecasts as well as timber real estate investment trusts estimates. After a “disappointing” 2024, Citi expects Southern log prices can return to growth in 2025 on rising lumber operating rates and growing U.S. South sawmill capacity, the analyst tells investors in a research note. Citi says that while “higher-for-longer” interest rates “temper some of the upside,” it is positive on Weyerhaeuser (WY) and PotlatchDeltic (PCH) citing their discounted valuations, leverage to recovering lumber prices, and ramping land-based revenue streams.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RYN:
- Rayonier price target lowered to $30 from $32 at Truist
- Rayonier enters into pore space easement pact w/ Reliant Carbon affiliate
- Rayonier price target lowered to $33 from $35 at RBC Capital
- Ex-Dividend Date Nearing for These 10 Stocks – Week of December 16, 2024
- Rayonier Declares Special Dividend Amidst Timberland Sales