International Paper (IP) Soars Higher On "Hints" of a Cyclical Bottom

Shares of International Paper Co. (NYSE: IP) are seeing a significant move higher today following a bullish call at Deutsche Bank, which upgraded the stock to Buy.

Shares of International Paper are up 19% in late-afternoon trading, its biggest one-day gain in years.

In its upgrade today, Deutsche Bank said "we are finally seeing hints of a cyclical bottom." The firm said Pulp demand is again strong in China, and the rate of decline in box demand may be easing.

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