Deutsche Bank Updates On IP

Deutsche Bank has issued an update on International Paper IP. According to Deutsche Bank, "Earlier this week, IP boosted its annual dividend by 40% to $1.05. It also announced plans to acquire a 75% stake in India's Andhra Pradesh Paper Mills (APPM). This is the third dividend increase in the past 12 months and nudges the pay-out above pre-recession levels of $1.00/share." IP is rated Buy and has a $35.00 Price Target. IP closed yesterday at $30.18 a share.