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IP

International Paper

$53.25

-0.94 (-1.73%)

13:20
05/15/18
05/15
13:20
05/15/18
13:20

Notable call activity in International Paper

Notable call activity in International Paper. The stock off 85c to $53.36 and 10K Jul 60 - 65 call spreads sold at 7c while 10.2K Jul 57.5 calls bought for 48c. The Jul 60 - 65 call spread probably closes a position opened in March, including 5K of the same spread opened for 99c on 3/13/18 with shares near $55. The investor is closing the vertical spread and opening a slightly larger bullish position in long 57.5 calls. Meanwhile, paper is also showing interest in IP Jun 55 calls Tuesday with 4.1K contracts changing hands. Total volume is 8X daily average at 38K calls and 540 puts. Earnings last reported 4/26 and the company presents at a Goldman Sachs Basic Materials conference tomorrow.

  • 15

    May

IP International Paper
$53.25

-0.94 (-1.73%)

04/17/18
RBCM
04/17/18
DOWNGRADE
Target $57
RBCM
Sector Perform
International Paper cut to Sector Perform at RBC Capital
As reported earlier, RBC Capital analyst Paul Quinn downgraded International Paper (IP) to Sector Perform from Outperform and lowered his price target to $57 from $70. The analyst say that the company has "considerable tailwinds" in its core North America containerboard business as well as strong conditions in the pulp and paper business, but sees the potential acquisition of Smurfit Kappa (SMFTF) clouding the picture while producing a "considerable valuation overhang". Quinn believes that International Paper's synergy expectations are overly ambitions and the price it is willing to pay is too high.
04/17/18
04/17/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PepsiCo (PEP) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying the potential for continued softer North American Beverage volumes could weigh on the company's organic sales growth. 2. Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying the Opdivo + Yervoy combination showed worse efficacy cross-trial compared to Merck's (MRK) Keytruda+chemo combo. 3. Acacia (ACIA) downgraded to Neutral from Buy at BofA/Merrill and to Neutral from Overweight at Piper Jaffray. 4. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying the company has "considerable tailwinds" in its core North America containerboard business, as well as strong conditions in the pulp and paper business, but sees the potential acquisition of Smurfit Kappa (SMFTF) clouding the picture while producing a "considerable valuation overhang." 5. WWE (WWE) downgraded to Neutral from Overweight at JPMorgan with analyst David Karnovsky saying he views the stock's current risk/reward as more balanced ahead of the company's media rights cycle. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/07/18
CIBC
05/07/18
NO CHANGE
CIBC
Mercer could be acquisition target for International Paper, says CIBC
05/07/18
CIBC
05/07/18
NO CHANGE
Target $20
CIBC
Outperformer
CIBC views Mercer as more attractive deal for IP than Smurfit
Mercer International (MERC) is a "less risky" and "more attractive opportunity" for International Paper (IP) than Smurfit Kappa (SMFTF), CIBC analyst Hamir Patel tells investors in a research note on Mercer titled "The More Logical Acquisition Candidate For IP?" Following recent deals to consolidate the hardwood pulp market, the analyst thinks deals on softwood side are likely to "heat up" next. By acquiring Mercer, International Paper would effectively control 24% of the global 15MM mtpy northern bleached softwood kraft market, Patel contends. He keeps an Outperformer rating on Mercer shares with a $20 price target. The stock in morning trading is up 40c to $13.95.

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