In a report released today, Adam Josephson from KeyBanc maintained a Sell rating on International Paper Co (IP – Research Report), with a price target of $36.00. The company’s shares closed last Thursday at $43.85.
According to TipRanks.com, Josephson is a 3-star analyst with an average return of 3.3% and a 53.5% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Graphic Packaging, and Clearwater Paper.
Currently, the analyst consensus on International Paper Co is a Hold with an average price target of $43.86, implying a 2.5% upside from current levels. In a report issued on October 26, Morgan Stanley also maintained a Sell rating on the stock with a $37.00 price target.
Based on International Paper Co’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.87 billion and net profit of $266 million. In comparison, last year the company earned revenue of $5.67 billion and had a net profit of $292 million.
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International Paper Co. engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. The Global Cellulose Fibers segment offers cellulose fibers product portfolio includes fluff, market, and specialty pulps. The Printing Papers segment includes manufacturing of the printing and writing papers. The company was founded by Hugh J. Chisholm in 1898 and is headquartered in Memphis, TN.