Packing Paper target
NEW YORK (TheStreet) - International Paper (IP - Get Report ) stock is down by 1.57% to $47 in afternoon trading on Wednesday, after a price target decrease to $65 from $67 at Barclays.
The firm maintained its "overweight" rating in anticipation of second quarter results.
The paper and packaging industry has experienced modest outperformance so far this year, Barclays said in an analyst note.
In the second quarter, inputs of raw materials have increased slightly while volumes are weak but stable, creating a steady quarter for the industry, Barclays added.
Paper and packaging company stocks that are experiencing upward momentum are expected to remain positive, while those in a rut are not likely to produce results significant enough to reverse lower trading, analysts said.
International Paper manufactures paper products, such as packing materials and printing paper.
International Paper will release its 2015 second quarter earnings report on July 29, before the market open.
Separately, TheStreet Ratings team rates INTL PAPER CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTL PAPER CO (IP) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations, growth in earnings per share and increase in net income. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
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