Bank of America Securities Sticks to Its Buy Rating for Sylvamo Corp (SLVM)
In a report released yesterday, George Staphos from Bank of America Securities maintained a Buy rating on Sylvamo Corp, with a price target of $59.00. The company’s shares closed yesterday at $47.81.
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Staphos covers the Consumer Cyclical sector, focusing on stocks such as Sonoco Products, Graphic Packaging, and Packaging. According to TipRanks, Staphos has an average return of 4.0% and a 49.38% success rate on recommended stocks.
Sylvamo Corp has an analyst consensus of Moderate Buy, with a price target consensus of $61.00.
Based on Sylvamo Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $846 million and a net profit of $57 million. In comparison, last year the company earned a revenue of $965 million and had a net profit of $95 million
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLVM in relation to earlier this year.
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