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Fly News Breaks for February 14, 2020
IP
Feb 14, 2020 | 06:26 EDT
Credit Suisse analyst Lars Kjellberg reinstated coverage of International Paper with a Neutral rating and $48 price target. In a research note to investors, Kjellberg says the company's strengths are cash flow generation and its domestic containerboard operations and its weaknesses are limited options to deploy capital to grow its core domestic containerboard operations, weak cost position in pulp, and the structurally declining uncoated free sheet business. The analyst sees scope for increasing shareholder returns as a driver for the shares but less opportunity for IP to develop and grow its business due to its dominant position in U.S. containerboard and global fluff pulp. The analyst adds that he would like to see IP restructure its weak pulp business and figure out what to do with the uncoated freesheet business.
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