Wells Fargo says that overshadowing Q4 results today is the announcement that International Paper (IP) will break up into two public companies, seemingly reversing the DS Smith acquisition after just one year. Though sum-of-the-parts analysis will be contemplated today, Wells sees this substantiating its negative stance. The firm has an Underweight rating on the name with a price target of $36 on the shares.
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Read More on IP:
- International Paper sees Q1 adjusted EBITDA from cont ops $0.74B-$0.76B
- International Paper to Spin Off EMEA Packaging Unit, Creating Two Listed Packaging Groups
- International Paper Plans Split Into Two Regional Packaging Companies After Filing Form 8-K
- International Paper to create two independent public companies
- International Paper reports Q4 cont ops adjusted EPS (8c), consensus 25c