George Staphos, an analyst from Bank of America Securities, maintained the Hold rating on International Paper Co (IP – Research Report). The associated price target remains the same with $60.00.
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George Staphos has given his Hold rating due to a combination of factors related to International Paper Co’s recent strategic decisions. The company is undergoing significant restructuring in its North American operations, including the conversion of its Reno, NV facility to focus on packaging, and the closure of facilities in Marion, OH and Wichita, KS. Additionally, International Paper is divesting its Mexican containerboard mill and recycling plants, which aligns with its strategy to concentrate on key geographies and products.
These changes are part of International Paper’s broader 80/20 strategy aimed at enhancing growth in sustainable packaging. While these strategic moves are seen as positive steps, they are counterbalanced by a challenging volume environment in the industry. As a result, the Hold rating reflects a balanced view of the company’s strategic initiatives and the current market conditions, with a price objective set at $60.00 USD, above the current trading price of $46.46 USD.
Staphos covers the Consumer Cyclical sector, focusing on stocks such as International Paper Co, Graphic Packaging, and Packaging. According to TipRanks, Staphos has an average return of 4.5% and a 51.80% success rate on recommended stocks.