Citi analyst Anthony Pettinari upgraded International Paper to Buy from Neutral with a price target of $46, up from $36, following the naming of Andy Silvernail as CEO. The firm says while outgoing CEO Mark Sutton made “major strides” in simplifying the company’s portfolio, the job is only partly done. Silvernail is an outsider and a potential change agent, the analyst tells investors in a research note.
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