RYN Rayonier Inc.

$RYN New 52-week low for Rayonier on Tuesday after Citi cut its price target to 19 from 23, keeping a neutral rating. The stock traded as low as 17.85 and closed near 18 (MarketBeat). One level down, read the target against the price. Citi's new 19 is only about 5% above where the stock already trades: the cut is marking the target to the tape, not calling for more downside. The wider street still averages a 24 target (MarketBeat, six analysts: one Strong Buy, five Holds), a third above the price. The backdrop is the February merger: the PotlatchDeltic deal closed as an 8.2 billion combination with 4.2 million acres of timberland, the second-largest US timber REIT behind Weyerhaeuser. Lumber markets have stayed volatile this year on tariffs and weak construction (Reuters). Tracking whether the street's 24 average starts converging toward Citi's 19.