UPDATE: Argus Upgrades International Paper (IP) to Buy

June 11, 2021 7:05 AM EDT
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Price: $58.44 --0%

Rating Summary:
    13 Buy, 4 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 39
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(Updated - June 11, 2021 7:05 AM EDT)

Argus analyst David Coleman upgraded International Paper (NYSE: IP) from Hold to Buy with a price target of $75.00.

The analyst comments "We are raising our rating on International Paper Co. (NYSE: IP) to BUY from HOLD. We view International Paper as a well-run company with a strong track record in its industry, and expect its products and services to be in high demand on the other side of the pandemic. The balance sheet is solid and the dividend yield of about 3.2% is attractive in a low interest rate environment. From a technical standpoint, the shares had been in a bearish pattern of lower lows and lower highs from January 2018 until their pandemic lows in March 2020, but have recovered strongly since that time. We see room for further gains and are setting a target price of $75."

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 $62.83 yesterday.

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