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Fly News Breaks for May 10, 2019
RYAM
May 10, 2019 | 09:31 EDT
DA Davidson analyst Steven Chercover lowered his price target on Rayonier Advanced Materials to $18 after its Q1 earnings miss, with results in its High Purity Cellulose, or HPC, coming in particularly disappointing. The analyst notes that the quarter's operational issues across the business were compounded by softer commodity markets. Chercover maintains his Buy rating on Rayonier Advanced Materials however, citing his "cautious optimism" for stabilization in the HPC segment over the back half of the year.
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