Sylvamo Corp. (SLVM) PT Raised to $71 at RBC Capital

RBC Capital analyst Matthew McKellar raised the price target on Sylvamo Corp. (NYSE: SLVM) to $71.00 (from $63.00) while maintaining a Sector Perform rating.

The analyst comments "Sylvamo is enjoying relatively stable conditions in UFS and is setting up for stronger results in H2 compared to H1. We take a positive view of the company’s high-return capital project pipeline and focus on return of capital (management confirmed that it intends to return at least 40% of FCF to shareholders in 2024). However, we see better relative return opportunities elsewhere in our coverage."

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