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IP

International Paper

$58.25

0.04 (0.07%)

, GPK

Graphic Packaging

$14.27

-0.01 (-0.07%)

07:04
10/24/17
10/24
07:04
10/24/17
07:04

International Paper combines packaging unit with Graphic Packaging in $1.8B deal

International Paper (IP) signed a definitive agreement to contribute its North America Consumer Packaging business to Graphic Packaging (GPK) in a transaction valued at $1.8B. IP plans to use $660M in cash proceeds from a loan being assumed by Graphic Packaging to pay down existing debt. IP will also receive a 20.5% ownership interest valued at $1.14B in a subsidiary of Graphic Packaging that will hold the assets for the combined business. The transaction is expected to close in early 2018.

IP

International Paper

$58.25

0.04 (0.07%)

GPK

Graphic Packaging

$14.27

-0.01 (-0.07%)

  • 24

    Oct

  • 25

    Oct

IP International Paper
$58.25

0.04 (0.07%)

09/22/17
WELS
09/22/17
NO CHANGE
WELS
International Paper weakness today a buying opportunity, says Wells Fargo
Wells Fargo analyst Christopher Manuel recommends using the weakness in shares of International Paper (IP) today as a buying opportunity. He reiterates Outperform ratings on both IP and WestRock (WRK). The analyst views International Paper's mill conversion plans positively, noting the the needed capacity is coming on stream from the top North American producer. IP's initiative also removes an estimated 235,000 tpy of uncoated freesheet capacity, Manuel tells investors in a research note. The analyst continues to view the industry supply/demand fundamentals constructively, but admits some will see today's news as an indication that IP may not follow Georgia Packaging and KapStone (KS) in pursuing a price increase.
09/22/17
KEYB
09/22/17
NO CHANGE
KEYB
IP marks third capacity expansion in as many years, says KeyBanc
KeyBanc analyst Adam Josephson notes that International Paper (IP) this morning confirmed a containerboard capacity expansion. The conversion cost of $300M, equaling $667 per ton, is nearly double what Packaging Corp. of America (PKG) said it would spend on its own conversion, Josephson tells investors in a research note titled "Confirms a Containerboard Capacity Addition, Yet More Could Be Coming." With International Paper's conversion, the North America containerboard market will now have three "substantial" capacity additions in three years, the analyst adds, citing Kruger's 400,000 ton per year machine that started in May and Packaging Corp.'s 400,000 ton per year Wallula converted machine that will start in Q2 of 2018. Josephson says box demand will need to grow by 2% per year over that period for operating rates to remain stable. He thinks think 1%-2% box demand growth per year is a "reasonable assumption."
09/12/17
DBAB
09/12/17
NO CHANGE
DBAB
Georgia-Pacific reportedly raised containerboard prices, says Deutsche Bank
Deutsche Bank analyst Debbie Jones confirmed that some of her contacts have been informed of a price hike from Georgia-Pacific with an implementation date of October 9. The increase is reportedly for $50 per ton on krafliner and white top and $60 per ton for medium, Jones tells investors in a research note. The analyst expected an increase to be announced later this year for implementation in early 2018, but thinks investor expectations were more mixed regarding the potential for a fall hike. Jones is not aware of any producers following the hike, but expects more announcements this week. To be successful, International Paper (IP) and WestRock (WRK) would also need to raise prices, Jones contends. She believes a successful price increase would be beneficial for International Paper, KapStone (KS), Packaging Corp. (PKG) and WestRock.
09/12/17
JEFF
09/12/17
NO CHANGE
JEFF
Jefferies finds Georgia Pacific price increase as paper stocks rallied
Jefferies analyst Philip Ng said yesterday afternoon that his industry indicated Georgia Pacific announced a $50 per ton linerboard price increase and $60 per ton medium increase. The analyst expects the rest of the industry to match the increase in the coming weeks. A full $50 per ton containerboard price increase would boost earnings by 25%-plus for International Paper (IP), WestRock (WRK) and Packaging Corp. (PKG), the analyst points out. The stocks rallied yesterday afternoon as news of the Georgia Pacific price increase made the rounds.
GPK Graphic Packaging
$14.27

-0.01 (-0.07%)

08/21/17
DADA
08/21/17
NO CHANGE
DADA
Graphic Packaging shares still undervalued, says DA Davidson
DA Davidson analyst Steven Chercover says that Graphic Packaging and its fellow CRB producers have not been able to push through a second price hike as he had anticipated. However, the analyst continues to believe that the stock is undervalued and he thinks that its "record profitability, free cash flow, and the company's ability to demonstrate that pass-through pricing models can offset inflation" could enable the stock to rise further. He cut his price target on the shares to $16.50 from $17.50 but keeps a Buy rating.
07/11/17
07/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Blue Apron (APRN) initiated with a Sell rating and $2.00 price target at Northcoast. 2. Cheesecake Factory (CAKE) initiated with an Outperform at Wedbush. 3. Graphic Packaging (GPK) initiated with a Buy at DA Davidson. 4. Masimo (MASI) initiated with a Buy at Stifel. 5. Citi (C) initiated with a Hold at HSBC. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/17
DADA
07/11/17
INITIATION
DADA
Buy
Graphic Packaging initiated at DA Davidson
As noted earlier, DA Davidson started coverage of Graphic Packaging with a Buy rating and a $17.50 price target. Analyst Steven Chercover says that the company's "accelerating earnings and cash flows in 2018 should propel the shares out of their recent trading range."
07/10/17
DADA
07/10/17
INITIATION
Target $17.5
DADA
Buy
Graphic Packaging initiated with a Buy at DA Davidson
DA Davidson initiated Graphic Packaging with a Buy and a $17.50 price target.

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CAL

Caleres

$30.99

0.05 (0.16%)

16:20
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CAL

Caleres

$30.99

0.05 (0.16%)

16:19
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ALEX

Alexander & Baldwin

$44.87

0.75 (1.70%)

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MDU

MDU Resources

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T

AT&T

$34.33

-0.31 (-0.89%)

, TWX

Time Warner

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On The Fly: Top stock stories for Tuesday »

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GES

Guess

$17.94

0.16 (0.90%)

16:18
11/21/17
11/21
16:18
11/21/17
16:18
Earnings
Guess raises FY18 adjusted EPS view to 56c-63c from 52c-60c, consensus 60c »

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DRE

Duke Realty

$29.30

0.39 (1.35%)

16:17
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Duke Realty declares 85c per share special dividend »

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CRM

Salesforce

$108.80

1.43 (1.33%)

16:17
11/21/17
11/21
16:17
11/21/17
16:17
Earnings
Breaking Earnings news story on Salesforce »

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$NSD

NASDAQ Market Internals

16:17
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11/21
16:17
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16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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GES

Guess

$17.94

0.16 (0.90%)

16:17
11/21/17
11/21
16:17
11/21/17
16:17
Earnings
Guess sees Q4 adjusted EPS 48c-55c, consensus 52c »

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  • 21

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GES

Guess

$17.94

0.16 (0.90%)

16:16
11/21/17
11/21
16:16
11/21/17
16:16
Earnings
Guess reports Q3 adjusted EPS 12c, consensus 12c »

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  • 21

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$NYE

NYSE Market Internals

16:16
11/21/17
11/21
16:16
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16:16
Technical Analysis
NYSE market internals summary »

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AVA

Avista

$51.64

-0.19 (-0.37%)

16:14
11/21/17
11/21
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16:14
Hot Stocks
Avista shareholders approve acquisition by Hydro One at $53 per share »

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  • 21

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AXTA

Axalta Coating

$33.85

0.31 (0.92%)

, AKZOY

AkzoNobel

$30.57

0.085 (0.28%)

16:14
11/21/17
11/21
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16:14
Periodicals
Axalta Coating, AkzoNobel abandon merger talks, WSJ says »

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AXTA

Axalta Coating

$33.85

0.31 (0.92%)

AKZOY

AkzoNobel

$30.57

0.085 (0.28%)

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CRM

Salesforce

$108.48

1.11 (1.03%)

16:12
11/21/17
11/21
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Hot Stocks
Salesforce CEO: 'We're on a path to exceed $20 billion' »

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  • 21

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CRM

Salesforce

$108.58

1.21 (1.13%)

16:11
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16:11
Hot Stocks
Breaking Hot Stocks news story on Salesforce »

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HPQ

HP Inc.

$22.45

0.33 (1.49%)

16:10
11/21/17
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Hot Stocks
HP Inc. drops 6% in afterhours trading after earnings, guidance »

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  • 21

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CRM

Salesforce

$108.55

1.18 (1.10%)

16:10
11/21/17
11/21
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16:10
Hot Stocks
Salesforce reports deferred revenue $4.39B, up 26% y/y »

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HPE

HP Enterprise

$14.15

0.055 (0.39%)

16:09
11/21/17
11/21
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16:09
Earnings
Breaking Earnings news story on HP Enterprise »

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GME

GameStop

$16.64

0.2 (1.22%)

16:09
11/21/17
11/21
16:09
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Earnings
GameStop sees FY17 EPS $3.10-$3.40, consensus $3.31 »

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  • 21

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CRM

Salesforce

$108.45

1.0775 (1.00%)

16:09
11/21/17
11/21
16:09
11/21/17
16:09
Earnings
Salesforce sees FY19 revenue $12.45B-$12.5B »

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QADB

QAD Inc

$31.74

1.74 (5.80%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Earnings
QAD sees FY18 revenue $300M-$302M, consensus $294.59M »

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HPQ

HP Inc.

$22.46

0.335 (1.51%)

16:08
11/21/17
11/21
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16:08
Hot Stocks
HP Inc. says results demonstrate HP 'strong and getting stronger' »

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  • 21

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CRM

Salesforce

$108.60

1.24 (1.16%)

16:08
11/21/17
11/21
16:08
11/21/17
16:08
Earnings
Salesforce raises FY18 adjusted EPS view to $1.32-$1.33 from $1.29-$1.31 »

FY18 consensus $1.32.…

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  • 21

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HPE

HP Enterprise

$14.16

0.065 (0.46%)

16:08
11/21/17
11/21
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16:08
Hot Stocks
HP Enterprise announces Antonio Neri to replace Meg Whitman as CEO »

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