BofA analyst George Staphos upgraded Sylvamo to Buy from Neutral with a price target of $61, up from $52. The firm is “restacking” its ratings in the packaging and paper products group heading into Q2 reports, noting that several of its changes attempt to prioritize to better valuations or financial positioning. For Sylvamo in particular, BofA says shares have suffered due to copy paper volume and pricing concerns, but cites valuation and other points for its upgrade.
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