Market Overview

Deutsche Bank Reiterates Buy Rating, $41 PT for International Paper

Related IP
International Paper CEO: 'Box Demand Isn't A Direct Co-Relation To GDP Anymore In The U.S.'
Credit Suisse Says Bond Market Bears Wake Up, Likes Cyclical Stocks And Financials
MeadWestvaco, Rock-Tenn Announce Merger Completion Date - Analyst Blog (Zacks)

In a company update published earlier today, Deutsche Bank AG reiterated its Buy rating and $41.00 price target for International Paper Company (NYSE: IP).

Deutsche Bank said in its report “IP has reached two agreements to sell the three containerboard mills. The sales were mandated by the US Department of Justice as a condition for IP's acquisition of Temple-Inland. Two mills had been part of TIN, the third one was acquired in 2008 when IP acquired Weyerhaeuser's packaging business. The combined sale value is $470MM (excl'g working capital). This is markedly better than our most recent estimate of $300-450MM. A ~365K/tpy medium mill in New Johnsonville, TN is being acquired by the Hood Companies. New-Indy Containerboard LLC, a newly formed JV of the Kraft Group & Schwarz Partners, LP is buying the 2 mills in California - 380K tpy recycled mill in Ontario & 225K tpy Oxnard (Hueneme) mill.”

International Paper Company closed yesterday at $29.20.

Latest Ratings for IP

May 2015CitigroupMaintainsBuy
May 2015BarclaysMaintainsOverweight
Apr 2015BarclaysMaintainsOverweight

View More Analyst Ratings for IP
View the Latest Analyst Ratings

Posted-In: Deutsche Bank AGAnalyst Color Reiteration Analyst Ratings


Related Articles (IP)

Around the Web, We're Loving...