As previously reported, Stephens analyst Mark Connelly upgraded International Paper to Overweight from Equal Weight as he contends that the gap between the company's economic potential and its stock price is "unusually high" and the same time that investor confidence in management is "unusually low." Taken together, this makes the risk-reward in the stock "compelling," Connelly tells investors. Investors started worrying about containerboard pricing long before they started pricing in recession risk, and while recession risk is "real," new capacity risk is "probably overstated," Connelly believes. The analyst, who does not expect a markdown of more than about $30/ton for containerboard, raised his price target on International Paper shares to $60 from $50.