Rayonier price target raised to $32 from $31 at Truist

Truist raised the firm’s price target on Rayonier to $32 from $31 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results for Packaging & Paper/Forest Products. The sector saw better containerboard demand and stable pricing, uneven boxboard demand and mixed pricing depending on substrate, and mixed wood products pricing, with single-family construction being in the early stages of a recovery, the analyst tells investors in a research note. Beverage can demand also remained steady with better growth out of Europe and South America, Truist added.