On July 24, International Paper rose 7.28% in regular trading, trading at $40.695/share, with turnover of $2.57 billion. The rally was driven by a wave of investment bank target price upgrades and broad-based strength across the paper packaging sector.
On the news front, multiple major banks recently raised their price targets on International Paper: JPMorgan lifted its target from $43 to $51, RBC Capital Markets raised from $45 to $48 while maintaining an Outperform rating, Truist Securities adjusted from $40 to $46 with a Buy rating maintained, and UBS raised from $32 to $40. The consensus mean target now stands at approximately $43.40 with an average Overweight rating.
The paper packaging sector rallied in tandem, with Smurfit WestRock up 7.44%, Packaging Corp of America up 6.45%, and Amcor up 3.60%, reflecting significant sector-wide momentum. Separately, International Paper maintained its quarterly dividend at $0.4625 per share. The company's next earnings report is expected on July 30, with consensus EPS forecast at -$0.03.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments