Truist analyst Michael Roxland raised the firm’s price target on International Paper to $38 from $30 and keeps a Hold rating on the shares. The company’s Q4 results were better on cost tailwinds and the management believes that most destocking occurred in the quarter, setting the stage for a modest demand recovery as the year progresses with shipments forecast to increase 1% in 2023, the analyst tells investors in a research note.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on IP:
- International Paper price target raised to $40 from $36 at RBC Capital
- International Paper price target raised to $38 from $32 at Wells Fargo
- International Paper Reports Full-Year and Fourth Quarter 2022 Results
- International Paper reports Q4 adjusted EPS 87c, consensus 69c
- International Paper to sell ownership in Ilim joint venture for $484M
