UPDATE: RBC Capital Downgrades Rayonier Advanced Materials (RYAM) to Sector Perform

(updating comment)

RBC Capital analyst Paul Quinn downgraded Rayonier Advanced Materials (NYSE: RYAM) from Outperform to Sector Perform with a price target of $3.00 (from $2.50).

The analyst comments "We reduce our rating on Rayonier Advanced based on increasing headwinds in the global pulp industry. In the near term, we expect that prices will show some weakness and that producer discounts will increase based on: 1) a weakening demand outlook; 2) our belief that pulp inventories are higher than suggested by recent statistics; and 3) increasing push-back on price increases."

For an analyst ratings summary and ratings history on Rayonier Advanced Materials click here. For more ratings news on Rayonier Advanced Materials click here.

Shares of Rayonier Advanced Materials closed at $3.21 yesterday.

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