Rayonier price target raised to $39 from $37 at Seaport Research

Seaport Research raised the firm’s price target on Rayonier to $39 from $37 and keeps a Buy rating on the shares. At Investor Day, the company provided an update on its $1B divestiture program but focused on framing the increasingly visible/accelerating value and cash generation from its Real Estate Development and Land-Based Solutions businesses, the analyst tells investors.