Sylvamo price target lowered to $61 from $70 at RBC Capital

RBC Capital analyst Matthew McKellar lowered the firm’s price target on Sylvamo (SLVM) to $61 from $70 and keeps a Sector Perform rating on the shares. The firm has a positive view of Sylvamo’s focused business strategy and low-cost mill system as well as its emphasis on returning cash to shareholders, though its oversupply in some markets and an uncertain outlook leave its rating at neutral, the analyst tells investors in a research note.