Deutsche Bank analyst Hillary Cacanando upgraded International Paper (NYSE: IP) from Hold to Buy with a price target of $50.00 (from $39.00).

The analyst comments: “We are upgrading International Paper to BUY from HOLD and raising our price target to $50 from $39. While we have long viewed management's transformation efforts favorably, our prior Hold rating reflected uncertainty around execution, demand, and whether the containerboard pricing environment could improve meaningfully. Following 1Q26 and 2Q26 results, we believe the risk/reward has shifted in investors' favor. Management is demonstrating tangible execution progress, the earnings contribution from strategic investments is becoming visible, cost-out initiatives remain on track, and industry fundamentals have materially tightened faster than we expected. IP increasingly appears well positioned to benefit from both internally driven improvement and a more favorable industry backdrop.”

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Shares of International Paper closed at $43.15 yesterday.