Seaport Research raised the firm’s price target on International Paper (IP) to $63 from $52 and keeps a Buy rating on the shares. The company posted a “sizable 3Q beat,” with a largely in-line Q4 guidance, the analyst tells investors. Additionally, the company laid out actions being taken as it begins its 80:20 journey to higher profitability, which proved to be a satisfying combination for investors, the firm adds.
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