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Fly News Breaks for February 13, 2020
GEF, SON, PKG, IP, WRK
Feb 13, 2020 | 15:55 EDT
BofA analyst George Staphos noted that ArkansasOnline reported that the Sun Paper Arkadelphia, AR greenfield containerboard project is now on hold, and called that a positive for the containerboard market as that project was expected to add approximately 1.6M tons of capacity annually, or ~4% of North American supply. Staphos maintained a Buy rating on WestRock (WRK), Neutral ratings on International Paper (IP), Packaging Corp. (PKG) and Sonoco (SON), and an Underperform rating on Greif (GEF).
News For WRK;IP;PKG;SON;GEF From the Last 2 Days
PKG
Apr 26, 2024 | 08:48 EDT
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.
PKG
Apr 25, 2024 | 07:13 EDT
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."
IP
Apr 24, 2024 | 09:41 EDT
