Jefferies Starts International Paper (IP) at Buy

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Jefferies initiates coverage on International Paper (NYSE: IP) with a Buy rating and $52 price target saying a price hike and higher dividend are within reach.

The analyst comments, "We are initiating coverage on IP with a Buy, driven by our positive view on the containerboard industry and the company's strong FCF profile. As the industry continues to show improved pricing power and discipline, and management proves it's committed in returning cash to shareholders, we believe the stock will get re-rated."

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 $41.79 yesterday, with a 52 week range of $27.29-$43.49.

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