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UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on International Paper

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In a report published Friday, Credit Suisse reiterated its Outperform rating on International Paper (NYSE: IP), and raised its price target from $42.00 to $44.00.

Credit Suisse noted, “While we lower our 2013 EPS estimate largely due to a sizeable increase in non-cash pension expense, we're confident our positive thesis continues to play out. Specifically, 1) strong leverage to structural improvement to the US containerboard market, 2) favorable growth in emerging markets, and 3) a robust FCF profile (11.4% FCF yield in 2013) to support deleveraging and an attractive dividend.”

International Paper closed on Thursday at $36.38.

Latest Ratings for IP

DateFirmActionFromTo
Sep 2014BMO CapitalInitiates Coverage onMarket Perform
Aug 2014BarclaysMaintainsOverweight
Jul 2014MacquarieMaintainsNeutral

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View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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