UPDATE: D.A. Davidson Raises PT for International Paper Company; Adjusts Estimates

According to a research report this morning, D.A. Davidson is trimming estimates for International Paper Company

despite matching the $.57 estimate for Q1-12. However, D.A. Davidson will be raising its PT from $41.50 to $45. D.A. Davidson explained, “IP entered the year as our top pick, and everything we have seen so far makes us comfortable that it will be a winner. The company has projects that should generate additional revenue on three continents and cut costs in South America. With the proceeds of the assets sales and strong cash flows, we believe IP will de-lever fast and deliver increasing value to shareholders (including a higher dividend) in the near term.” International Paper Company closed Friday at 33.75 as D.A. Davidson maintains its Buy rating.