UBS lowered the firm’s price target on International Paper to $32 from $33 and keeps a Neutral rating on the shares. The firm expects a 25% dividend cut in Q4, as pricing for International Paper’s containerboard and pulp products continues to fall and 2023 EBTIDA and free cash flow guidance are again at risk of being cut, the analyst tells investors in a research note.
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Read More on IP:
- International Paper Declares Dividend
- International Paper downgraded to Underperform at BofA amid packaging restacking
- International Paper price target lowered to $30 from $32 at Citi
- International Paper downgraded to Underperform from Neutral at BofA
- International Paper price target lowered to $33 from $40 at UBS
