International Paper cut to Hold at Argus on depressed earnings, unclear outlook

As previously reported, Argus downgraded International Paper to Hold from Buy. The stock has lagged its benchmarks over recent short-term and long-term cycles, reflecting the company’s depressed earnings and unclear outlook, the analyst tells investors in a research note. The firm adds however that it may look to get this “well-managed” company with a “clean” balance sheet and a “strong” track record back on the Buy list if volumes pick up substantially or if the shares fall back toward technical support near $30.