UPDATE: Argus Upgrades International Paper (IP) to Buy
- Futures dip ahead of Fed meeting, big tech earnings
- Tesla (TSLA) Gains on Q2 Beat, Analysts Mostly Positive but Others Cautious
- China's Meituan (MPNGF) Plunges 17.6% to Push Hang Seng Index to 8-Month Lows as Heavy Selling Continues
- Dollar resumes climb as risk appetite fades; yuan, Aussie struggle
- Elon Musk Laid Into Apple (AAPL) During Tesla's (TSLA) Q2 Earnings Call
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."
Shares of International Paper closed at $62.83 yesterday.
You May Also Be Interested In
- UPDATE: Raymond James Upgrades Advance Auto Parts (AAP) to Strong Buy
- Axis Bank Ltd. (AXSB:IN) PT Raised to INR1,050 at CLSA
- Axis Bank Ltd. (AXSB:IN) PT Raised to INR810 at Bernstein
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!