Jefferies upgraded International Paper to Buy from Hold with a price target of $57, up from $38. The analyst sees “multiple levers” to unlock shareholder value,” with the new CEO pivoting from a volume to value commercial approach, the cycle turning as prices move higher, increased scale in Europe and improvement in portfolio construction and capital deployment. The stock has been flat the past 10 years, but Jefferies now sees upside and believes new CEO Andy Silvernail “is an agent of change and has a strong track record,” the analyst tells investors in a research note.
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