Wells Fargo Cuts International Paper Price Target On Slowing Demand

Wells Fargo Cuts International Paper Price Target On Slowing Demand
  • Wells Fargo analyst Gabe Hajde downgraded International Paper Co IP to Equal Weight from Overweight and reduced the price target to $47 (11% upside) from $58.
  • The analyst cited slowing demand and incremental non-integrated supply coming online as reasons for the re-rating.
  • He believes it will be challenging for the stock to work over the 6-12 months.
  • Price Action: IP shares are trading lower by 1.92% at $41.41 in premarket on the last check Monday.
  • Photo Via Company
Posted In: BriefsAnalyst ColorNewsDowngradesPrice TargetAnalyst RatingsGeneral