Paper products maker International Paper Company (IP) on Monday received some bullish commentary from analysts at Credit Suisse.
The firm maintained its “Neutral” rating on IP but lifted its price target to $35, suggesting a small upside to the stock’s Friday closing price of $33.85. Credit Suisse also raised its earnings estimates for the company through 2013, noting the Temple-Inland integration is going well.
International Paper shares fell 57 cents, or -1.7%, in morning trading Monday.
The Bottom Line
Shares of International Paper (IP) have a 3.10% dividend yield, based on Friday’s closing stock price of $33.85. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.
International Paper Company (IP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.