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Fly News Breaks for September 11, 2018
IP
Sep 11, 2018 | 08:53 EDT
Stephens analyst Mark Connelly said he does not expect the retirement of C. Cato Ealy, the "architect of IP's M&A strategy for nearly three decades," to result in a substantial shift in direction, but he does believe that his departure and the "unexpected exit" previously of CFO Glenn Landau give International Paper CEO Mark Sutton another opportunity to shift the narrative and possibly strategy as well. Connelly keeps an Equal Weight rating and $57 price target on International Paper shares.
News For IP From the Last 2 Days
IP
Apr 26, 2024 | 07:53 EDT
Wells Fargo lowered the firm's price target on International Paper (IP) to $37 from $42 and keeps an Equal Weight rating on the shares. While improving containerboard fundamentals are positive for International Paper, Wells believes the DS Smith (DITHF) merger remains an overhang, the analyst tells investors in a research note. In addition, the firm says it remains unclear how long or what level of return is associated with increased spend across the company's Industrial Packaging operations.
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."
