UPDATE: Jefferies Initiates International Paper at Buy, Cites Better Than Expected Sales Trends
In a report published Tuesday, Jefferies initiated coverage on International Paper (NYSE: IP) with a Buy rating with a $52.00 price target.
Jefferies reported that, “Even without help from the economy, based on its capital and projects and synergies from its recent acquisitions, IP can boost its EBITDA by $875 mil to $1.1 bil (24%+ increase from 2012) over the next few years. The company is doing a great job integrating Temple, and with the build out of Ilim and its Franklin mill nearly complete, it should provide a nice tailwind to earnings.”
International Paper shares closed Monday at $35.86.
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