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IP

International Paper

$43.33

0.565 (1.32%)

05:58
01/09/19
01/09
05:58
01/09/19
05:58

International Paper downgraded to Market Perform from Outperform at Wells Fargo

  • 31

    Jan

IP International Paper
$43.33

0.565 (1.32%)

10/10/18
GSCO
10/10/18
DOWNGRADE
Target $53
GSCO
Neutral
International Paper downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire downgraded International Paper (IP) to Neutral and lowered his price target for the shares to $53 from $63. The stock closed yesterday down $2.69 to $44.64. Following 12 new U.S. containerboard capacity announcements since his upgrade of the shares on July 12, 2017, the analyst now forecasts 11% growth in North American capacity from 2019-2022 against an estimate of 2% per year demand growth. U.S. containerboard supply growth will outpace demand growth during the 2020-2022 period, which increases the risk of pricing/earnings declines in that time period, Maguire tells investors in a research note. The analyst admits that he underestimated the speed and severity of the supply response in the industry to the acceleration in demand. Maguire also lowered his price target for Buy-rated WestRock (WRK) to $64 from $73 and removed the shares from his firm's Americas Conviction List. He also dropped his price target for Neutral-rated Packaging Corp. (PKG) to $108 from $119.
10/10/18
10/10/18
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. Vipshop (VIPS) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying as the "tough competitive environment and harder-than-expected synergy generation," Vipshop is likely to adjust its strategy to re-focus on core off-season apparel distribution and prioritize profitability over sales growth. 2. International Paper (IP) downgraded to Neutral from Buy at Goldman Sachs while WestRock (WRK) was downgraded to Buy from Conviction Buy. 3. Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) were downgraded to Sell from Hold at Deutsche Bank. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying "tough" market comments from companies like H.B. Fuller (FUL), PPG (PPG) and RPM (RPL) suggest that coatings companies are likely to be challenged by rising raw materials costs and slowing growth in key end markets, including China. 5. KKR (KKR) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/18
GHSC
10/23/18
INITIATION
GHSC
Neutral
International Paper initiated with a Neutral at Seaport Global
Seaport Global analyst Mark Weintraub initiated International Paper with a Neutral saying it is more exposed to weakening environments and does not have a record of value creation.
11/27/18
BMOC
11/27/18
NO CHANGE
Target $51
BMOC
Market Perform
BMO Capital mixed on potential bid for Menasha Packaging by International Paper
BMO Capital analyst Mark Wilde kept his Market Perform rating and $51 price target on International Paper (IP), saying the company's considered purchase of Menasha Packaging as reported by Pulp & Paper Week could yield mixed results. The analyst notes that the acquisition could allow the company to vertically integrate its mill tonnage and eliminate "Menasha as a major potential off-take customer for non-integrated/partially integrated companies looking at adding new mill capacity". However, Wilde also notes that International Paper would face a challenge of "maintaining Menasha's customer-centric focus on value-added packaging," adding that only Packaging Corporation of America (PKG) has succeeded in integration and growth of an downstream converting business like Menasha.

TODAY'S FREE FLY STORIES

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GLD

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SP

SP Plus Corp.

$36.62

0.15 (0.41%)

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  • 21

    Feb

LBY

Libbey

$5.75

0.15 (2.68%)

18:14
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  • 21

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LBY

Libbey

$5.75

0.15 (2.68%)

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NTES

NetEase

$232.66

3.11 (1.35%)

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  • 20

    Feb

NTES

NetEase

$232.66

3.11 (1.35%)

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  • 20

    Feb

NTES

NetEase

$232.66

3.11 (1.35%)

18:04
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Earnings
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  • 20

    Feb

LEE

Lee Enterprises

$2.61

0.01 (0.38%)

18:04
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KRNY

Kearny Financial

$13.48

-0.01 (-0.07%)

18:03
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CPRT

Copart

$53.43

0.11 (0.21%)

18:02
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Earnings
Breaking Earnings news story on Copart »

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  • 21

    Feb

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CE

Celanese

$102.65

1.71 (1.69%)

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CPRT

Copart

$53.43

0.11 (0.21%)

18:01
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  • 21

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WPG

Washington Prime

$5.77

(0.00%)

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  • 21

    Feb

CPA

Copa Holdings

$89.89

-0.8 (-0.88%)

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GE

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BA

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$421.61

5.21 (1.25%)

ERJ

Embraer

$20.52

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WPG

Washington Prime

$5.77

(0.00%)

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Earnings
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  • 21

    Feb

RMAX

RE/MAX Holdings

$40.54

0.11 (0.27%)

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MSA

MSA Safety

$100.06

-1.13 (-1.12%)

17:46
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  • 21

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TFX

Teleflex

$286.65

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$286.65

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PINC

Premier

$38.05

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AGI

Alamos Gold

$4.87

0.05 (1.04%)

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  • 21

    Feb

NTR

Nutrien

$54.43

1.075 (2.02%)

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  • 24

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AKRX

Akorn

$4.03

-0.42 (-9.44%)

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$0.00

(0.00%)

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FSNUY

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$0.00

(0.00%)

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  • 28

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MESO

Mesoblast

$4.28

0.13 (3.13%)

17:26
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Mesoblast reports 1H19 $44.1M loss versus 1H18 profit of $6.7M »

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  • 20

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