Rayonier's stock soared 5.16% during intraday trading on Friday, following positive analyst action from Raymond James.
The investment firm upgraded Rayonier from "Outperform" to "Strong Buy" and raised its price target from $26 to $28, signaling increased confidence in the company's prospects.
Such analyst upgrades often lead to increased investor interest and buying activity as market participants react to improved outlooks from financial institutions.
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