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Bank of America Merrill Lynch Reiterates Buy Rating, $38 PT for International Paper

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10 Notable Stocks Trading Ex-Dividend Friday, November 11
Earnings Scheduled For October 27, 2016

In a company update published earlier today, Bank of America Merrill Lynch reiterated its Buy rating and $38.00 price target for International Paper Company (NYSE: IP).

BofA Merrill Lynch said the basis of their decisions “supports our overall contention that IP management has been on top of the various components of its Temple integration effort and reflects a more subtle, but important positive as well. As far as the price, we think the valuation is positive as well. While IP has indicated in its slide presentations that the EBITDA associated with the mills is “$0.1bn”, this figure is based on “average” profitability. However, we don't think the collection of mills generates average profitability in aggregate, based on our estimates and cost trade data.”

International Paper Company closed yesterday at $29.20.

Latest Ratings for IP

DateFirmActionFromTo
Oct 2016MacquarieDowngradesMarket PerformUnderperform
Oct 2016CitigroupMaintainsNeutral
Sep 2016Deutsche BankMaintainsHold

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Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

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