Truist reiterated a $59 price target on International Paper (IP) an a $50 target on Smurfit Westrock (SW) after Fastmarkets RISI released its weekly PPI Europe publication, in which Spanish unbleached kraftliner pricing increased EUR15 per metric ton in May while testliner remained flat. Last week, RISI published Italy pricing data in which local unbleached kraftliner pricing increased EUR10 per metric ton in May, and testliner increased EUR 7.50 per metric ton. The firm affirmed Buy ratings on International Paper and Smurfit, saying the news is a positive for both stocks.
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