Stifel Upgrades International Paper (IP) to Buy

Stifel analyst Lars Kjellberg upgraded International Paper (NYSE: IP) from Hold to Buy with a price target of $57.80.

The analyst comments: "We upgrade IP to Buy from Hold. The original exuberance priced into the share following Andy Silvernail's appointment as CEO has been replaced by more realistic expectations of the pace of potential performance improvements, and embraces the challenges of the DS Smith acquisition.
IP still has a lot to prove. However, the path is set, and tangible actions have been executed, including the $1.5bn disposal of the weak performing Global Cellulose Fiber operations. While markets remain muted, we believe IP is approaching a pivot point for the strategic rethink to deliver profit and margin improvement. We expect adjusted EBITDA to move into IP's 2027 target range of $5.5-6.0bn."

For an analyst ratings summary and ratings history on International Paper click here. For more ratings news on International Paper click here.

Shares of International Paper closed at $46.64 yesterday.

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