Some Hope For International Paper & Peers (IP, MWV, WY)
There is an interesting research report in shares of International Paper (NYSE: IP). A report from Zacks may have some impact on the company and also in shares of MeadWestvaco Corporation (NYSE: MWV) and Weyerhaeuser Co. (NYSE: WY). The new rating…
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There is an interesting research report in shares of International Paper (NYSE: IP). A report from Zacks may have some impact on the company and also in shares of MeadWestvaco Corporation (NYSE: MWV) and Weyerhaeuser Co. (NYSE: WY). The new rating was lifted to Outperform from Neutral based upon IP’s M&A strategy, joint ventures, and projects in Russia and China all working toward earnings growth.
Another boost is the a hiked dividend an unprecedented three times in the last year after having cut the payout by 90%. One caveat is continued high debt and Zacks sees “upward pressure on the stock over the near term.”
This is also coming when the stock is close to a year high. At $32.45, the 52-week range is $21.55 to $33.01 and the market cap is just over $14 billion. The Thomson Reuters consensus price target is $37.00 for a comparison and if the consensus estimates are achieved this one trades at barely 10-times earnings.
The full Zacks note is available here.
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
