2024-05-23 15:24:52 ET
Investors have sent shares of International Paper (NYSE: IP) higher in recent weeks on reports that the company has attracted the attention of a buyer. At least one Wall Street analyst sees reason to give the stock a look regardless of the merger and acquisition talk.
Shares traded up 6% as of 2:30 p.m. ET on Thursday after the company was upgraded at Jefferies Financial Group (NYSE: JEF) .
International Paper is a global leader in the paper and packaging industry, a sector that has been rocked by consolidation in recent years. The company has not sat on the sidelines and is looking to buy British paper supplier DS Smith . It is also reportedly a potential target for Brazil's Suzano .
For further details see:
Why International Paper Stock Is Gaining Today