RBC Capital Upgrades International Paper (IP) to Outperform

RBC Capital upgraded International Paper (NYSE: IP) from Sector Perform to Outperform with a price target of $67.00 (from $57.00).

Analyst Paul Quinn upgrades the name following news that IP will not make a bid on Smurfit Kappa. The analyst previously held an unfavorable view on the proposed acquisition.

Quinn continues to like IP as a great FCF generation story and believes management would be serving investors by returning some of that capital to shareholders.

For an analyst ratings summary and ratings history on International Paper click here. For more ratings news on International Paper click here.

Shares of International Paper closed at $57.19 yesterday.

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