Deutsche Bank Downgrades International Paper (IP) and Domtar (UFS) to Hold
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Deutsche Bank downgrades International Paper Co. (NYSE: IP) and Domtar Corporation (NYSE: UFS) from Buy to Hold, noting that global pulp prices are under pressure which could ripple to paper.
The firm said, "Over the past few weeks we believe that the pressure has intensified more than most analysts and trade publications have acknowledged. The questions are (1) how far could pulp prices fall and (2) how much of a “ripple effect” those declines could have on paper markets. We are more cautious and are trimming recommendations from Buy to Hold on two large white paper producers: International Paper and Domtar."
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