In a report published Wednesday, Goldman Sachs reiterated its Neutral rating on International Paper Company IP, and slightly raised its price target from $41.00 to $42.00.
Goldman Sachs noted, “International Paper (IP) reported 4Q2012 EPS (ex. one-time items and nonoperating pension expense) of $0.69 vs. our estimate and consensus of $0.65. IP's 4Q2012 EBIT was $542 mn, below our $584 mn forecast, as the upside to our EPS estimate was driven largely by a lower-than-expected effective tax rate (21% vs. 32%). IP expects 2013 FCF to move higher by about $450-$500 mn, including $400 mn+ of benefit from higher containerboard/box pricing, and $350-$450 mn from strategic investments, partially offset by $200 mn of cost inflation, $100 mn of lower earnings from the sale from three containerboard mills in 2012, and modestly lower bleached board prices.”
International Paper Company closed on Tuesday at $41.90.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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