Goldman Sachs Suggests Buying Calls on IP

Goldman Sachs is out with a research note this morning, where it suggests traders buy calls on International Paper Company IP prior to earnings. Goldman Sachs Paper and Forest Products analyst, Richard Skidmore, is bullish on Buy rated IP shares, as he sees 15% upside to his 12-month target price of $33. He sees a string of upcoming catalysts to drive shares higher, and is bullish on earnings (Feb 3rd). The analysts suggest buying the April $29.00 call for $1.42. International Paper Company a global paper and packaging company. It is complemented by the North American merchant distribution system, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.