As reported earlier, BMO Capital analyst Mark Wilde downgraded International Paper (IP) to Market Perform from Outperform and lowered his price target to $65 from $70 following its bid to acquire Smurfit Kappa Group (SMFTF). Wilde says that while the acquisition is "well-timed from a competitive standpoint" and likely to succeed, he is concerned about its impact on International Paper's corporate culture as well as the likelihood that the acquirer will have to undergo accelerated investment to recapitalize SKG's assets. Moreover, the analyst points to accelerating capacity of containerboard in the European markets, which could produce some pricing pressure and weigh on margins.