- Wells Fargo analyst Gabe Hajde downgraded International Paper Co IP to Equal Weight from Overweight and reduced the price target to $47 (11% upside) from $58.
- The analyst cited slowing demand and incremental non-integrated supply coming online as reasons for the re-rating.
- He believes it will be challenging for the stock to work over the 6-12 months.
- Price Action: IP shares are trading lower by 1.92% at $41.41 in premarket on the last check Monday.
- Photo Via Company
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