WRK - International Paper Gearing Up For Recovery With Optimistic Containerboard Market Trends: Analyst | Benzinga
Truist Securities analyst Michael Roxland upgraded International Paper Company (NYSE: IP) to Buy from Hold, raising the price target to $43 from $30.
The analyst thinks the containerboard market is reaching a positive inflection point and is poised for recovery due to improving demand from the end of destocking and increasingly balanced inventories.
In the broader industry, the analyst's preferred stock to play is IP, which has greater operating leverage and more upside than Westrock Company (NYSE: WRK) and Packaging Corporation Of America (NYSE: PKG).
While weak demand and destocking have plagued the industry since 2Q22, demand trends have recently begun ...