Deutsche Bank Raising PT On IP To $39

Deutsche Bank, citing impressive strides over the last two and a half years, is raising its price target on International Paper IP from $35 to $39. Says Deutsche Bank, in the report, “IP has made impressive strides over the past 30 months. Margins are improving, debt is down, dividend is above pre-crisis level and IP is showing more disciplined behavior in mkts. CF looks strong. We are boosting our target price from $35 to $39 due to improving fundamentals in IP's key grades leading to higher earning est's & strong financial position. DB boosting est's from $2.70 to $3.00 in 2011 (2Q from $0.54 to $0.66), and from $3.00 to $3.20 in 2012.” Deutsche Bank maintains its Buy rating on the stock. IP closed yesterday at $30.48.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsDeutsche BankInternational Paper CompanyMaterialsPaper Products
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!