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International Paper (IP) Stock Higher Today After Wells Fargo Upgrade

2015-01-16 15:20:31| Paper - Topix.net

"We are upgrading shares of IP given: an improving demand trajectory in the domestic containerboard market, margin improvement opportunity in the company's Latin American corrugated operations and contribution from high-return capital projects completed in the past 12 to 18 months," Wells Fargo said. Margin improvement from lower input costs and the potential for a spring containerboard price increase that could drive $310 million in EBIT improvement and 50 cent/share in EPS on an annual basis also prompted the upgrade, analysts added.

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