International Paper Given New $53.00 Price Target at Barclays (IP)
Equities researchers at Barclays dropped their target price on shares of International Paper (NYSE:IP) from $55.00 to $53.00 in a research report issued on Friday, Analyst Ratings Net reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would indicate a potential upside of 16.30% from the stock’s previous close.
A number of other analysts have also recently weighed in on IP. Analysts at Zacks reiterated a “neutral” rating on shares of International Paper in a research note to investors on Friday. They now have a $47.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of International Paper in a research note to investors on Thursday, October 10th. They now have a $55.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of International Paper from $58.00 to $56.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. International Paper presently has an average rating of “Buy” and a consensus target price of $45.97.
Shares of International Paper (NYSE:IP) opened at 45.57 on Friday. International Paper has a 1-year low of $32.95 and a 1-year high of $50.33. The stock’s 50-day moving average is $48.00 and its 200-day moving average is $46.68. The company has a market cap of $20.322 billion and a P/E ratio of 19.00.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.08. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the company posted $0.75 earnings per share. International Paper’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that International Paper will post $3.22 earnings per share for the current fiscal year.
International Paper Company (NYSE:IP) is a global paper and packaging company, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.
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