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Fly News Breaks for March 7, 2018
IP
Mar 7, 2018 | 05:17 EDT
Wells Fargo analyst Christopher Manuel downgraded International Paper to Market Perform citing the "overhang on shares" associated with a potential combination with Smurfit Kappa. The referenced price of EUR 36.46 per share in a potential takeover of Smurfit Kappa represents an already full offer for shares, Manuel tells investors in a research note. The analyst thinks finding an incremental buyer for International Paper shares could now prove difficult. He lowered his price target for the stock to $60 from $75.
News For IP From the Last 2 Days
IP
Apr 25, 2024 | 07:04 EDT
Reports Q1 revenue $4.62B, consensus $4.56B. "International Paper made progress executing our strategic initiatives in the first quarter,'' said Mark Sutton, chairman and CEO. "We saw commercial benefits from our business strategies, as well as cost benefits from mill system optimization. Although costs remain elevated and volumes were seasonally lower in the quarter, market trends continue to improve."
