JP Morgan reported on Monday that they have upgraded paper and packaging company, International Paper Company(IP).
The firm has raised their rating on IP from “Neutral” to “Overweight.” Analysts have upgraded the company based on the acquisition of Temple-Inland, Inc.(TIN), which will likely help the company grow. The acquisition was finalized earlier this month.
International Paper shares were up 36 cents, or 0.84% during Monday morning trading. The stock has increased 32% in the past year.
The Bottom Line
Shares of International Paper Company have a 2.79% yield, based on Friday’s closing price of $43.00
International Paper Company(IP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.