UBS Maintains a 'Buy' on International Paper (IP); Early Progress with Temple is Encouraging

April 30, 2012 12:33 PM EDT
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Price: $53.69 +1.92%

Rating Summary:
    7 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS maintains a 'Buy' on International Paper (NYSE: IP) price target lowered $1 to $42.

Analyst, Gail S. Glazerman, said, "IP earned $0.57 in 1Q12, off from $0.78 last year but above UBSe/consensus of $0.50. An accounting adjustment to Ilim reporting accounted for about $0.03 of the upside. But core operations were $31mm stronger than expected. Corporate Expense was $19mm higher than expected, tax rate was lower than expected. IP reported small $3mm contribution from Temple-Inland including $10mm synergies."

However, Glazerman lowers Q2 EPS estimate from $0.55 to $0.47, FY12 from $2.80 to $2.75 and FY13 from $4.30 to $4.05.

For an analyst ratings summary and ratings history on International Paper click here. For more ratings news on International Paper click here.

Shares of International Paper closed at $33.85 yesterday.

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Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

UBS, Temple-Inland/International Paper

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