As previously reported, RBC Capital analyst Paul Quinn downgraded International Paper to Sector Perform from Outperform and lowered his price target to $47 from $54. The analyst notes that while International Paper is a "great company", investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. Quinn sees the slowdown constraining packaging sector valuations with little market benefit coming from UFS capacity cuts.