Rayonier Advanced Materials price target raised to $14 from $9 at RBC Capital

RBC Capital raised the firm’s price target on Rayonier Advanced Materials (RYAM) to $14 from $9 and keeps an Outperform rating on the shares. RBC is positive on the company’s messaging with its results as reflecting a significant acceleration in the value-over-volume and repricing strategy that had begun to play out over the past few years, and believes the positive market response was directionally appropriate, the analyst tells investors in a research note.