Loading...
Loading...
JP Morgan increases its price target on International Paper Co
IP from $32 to $33 as it reiterates a Neutral rating on shares.
JP Morgan comments, "IP hosted a well-attended analyst day in NYC today, its first since 2009. The company unveiled the bridge to its mid-cycle EBITDA target, providing what we thought was useful color around the moving pieces. TIN synergy targets were also raised, as expected. Capital allocation, a key area for which many investors sought
clarity, was discussed, though left a bit open-ended around return of capital/reinvestment excluding the likely dividend increases over time, something we'd have liked a little more certainty on. That said, all in, we think the analyst day was very informative and met expectations, which were quite high coming in. Now it's time for the company to execute.
IP closed at $29.62 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in