Rayonier price target lowered to $33 from $35 at RBC Capital

RBC Capital lowered the firm’s price target on Rayonier (RYN) to $33 from $35 and keeps a Sector Perform rating on the shares as part of a broader research note previewing 2025 for Paper & Forest Products names. While slow global growth is weighing on specialty cellulose demand, Rayonier Advanced has managed to increase prices, and the recent industry capacity reductions could drive stronger pricing and volumes over the medium term, the analyst tells investors in a research note. RBC adds that while it believes paperboard and pulp markets to continue to soften somewhat into 2025, it sees an attractive opportunity for upside with time as the company builds out its biomaterials business.