Sylvamo price target raised to $71 from $63 at RBC Capital

RBC Capital analyst Matthew McKellar raised the firm’s price target on Sylvamo to $71 from $63 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company is enjoying relatively stable conditions in Uncoated Freesheet and is setting up for stronger results in the second half vs. the first half, though the firm also sees better relative return opportunities elsewhere in its coverage universe, the analyst tells investors in a research note.