UBS Maintains a 'Buy' on International Paper (IP); Early Progress with Temple is Encouraging
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Price: $40.74 +0.20%
Rating Summary:
15 Buy, 4 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
15 Buy, 4 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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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.
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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