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International Paper upgraded to Buy at BofA on higher pricing

As previously reported, BofA analyst George Staphos upgraded International Paper (IP) to Buy from Neutral with a price target of $57, up from $55. While stating that there is “important execution risk” and consensus is “muddied by its pulp divestiture,” the firm adds that operating rates will now be over 95% in 2026 and notes that its average $60/ton pricing increase forecast exceeds consensus for $20-$30/ton. If the firm is right about pricing, this “should overwhelm IP’s near-term operating issues,” the analyst tells investors.

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