Sylvamo downgraded to Neutral from Buy at BofA

BofA downgraded Sylvamo to Neutral from Buy with a price target of $82, up from $71, following a strong Q2 and in-line guidance for Q3. Shares are up 51% year-to-date, and BofA sees less upside potential from here, the analyst tells investors in a research note. The firm expects better volumes in Q3 versus Q2, particularly in North America and Latin America.