Jefferies Initiates International Paper at Buy and Raises PT Citing Better Than Expected Sales Trends

In a report published Tuesday, Jeffries initiated International Paper IP at Buy Rating and raises price target from $43.00 to $52.00. 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 at $35.86.