Report
Jeffrey Stafford
EUR 147.86 For Business Accounts Only

Price pressure continues for Rayonier Advanced Materials' specialty cellulose.

Cost-cutting continues for Rayonier Advanced Materials. The company raised its 2016 EBITDA guidance to $215 million to $225 million from $195 million to $205 million on better-than-anticipated cost reduction. Management's near-term outlook for volume and pricing remains intact. We've trimmed our cost outlook in the near term and long term, resulting in a fair value estimate boost to $9.80 per share from $9. Even a modest change in our cost assumptions drives a very large move in our fair value e...
Underlying
Rayonier Advanced Materials Inc

Rayonier Advanced Materials is a manufacturer of cellulose products, lumber, and pulp & paper products. The company's operating segments are: High Purity Cellulose, which manufactures and markets cellulose, which is sold as either cellulose specialties or commodity products that is primarily used in dissolving chemical applications; Forest Products, which the lumber, primarily spruce, pine, or fir, is used in the construction of residential and multi-family homes, light industrial and commercial facilities, and the home repair and remodel markets; Pulp, which manufactures and markets pulp products; and Paper, which manufactures and markets paper products consisting of paperboard and newsprint.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Stafford

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