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International Paper’s Target, Estimates Raised at Credit Suisse (IP)

By Dividend.com,  April 30, 2012, 09:54:39 AM EDT

Paper products maker International Paper Company ( IP ) on Monday received some bullish commentary from analysts at Credit Suisse.

The firm maintained its "Neutral" rating on IP but lifted its price target to $35, suggesting a small upside to the stock's Friday closing price of $33.85. Credit Suisse also raised its earnings estimates for the company through 2013, noting the Temple-Inland integration is going well.

International Paper shares fell 57 cents, or -1.7%, in morning trading Monday.

The Bottom Line
Shares of International Paper ( IP ) have a 3.10% dividend yield, based on Friday's closing stock price of $33.85. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.

International Paper Company ( IP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: IP



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