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Fly News Breaks for October 18, 2016
IP
Oct 18, 2016 | 08:08 EDT
Macquarie analyst Danny Moran downgraded International Paper to Underperform and maintained his $38 price target on shares. He believes shares are overvalued given increased dependence to balance the market in containerboard and fluff pulp, exposure to more cyclical end-markets, price risk skewing to the downside in all other paper grades, and lack of capital allocation opportunities.
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