International Paper (IP)

Car Key Boi

Well-known member
396 8
International Paper reinitiated with "buy" - update

Updated Tuesday, July 15, 2003 11:17:31 AM ET
Merrill Lynch

NEW YORK, July 15 (New Ratings) – Analysts at Merrill Lynch reinitiate coverage of International Paper (IP) with a "buy" rating. The target price is set to $47.

In a research note published this morning, the analysts mention that International Paper is the largest paper company in the world. The analysts forecast a quantum leap in earnings from the start of 2004, when the paper cycle is expected to rebound. According to Merrill Lynch, the company is undertaking a substantial restructuring program, which should assist margin growth. Despite its leadership role, the analysts feel that the company underperformed the market and currently makes an attractive entry point.

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rumor has it, the "substantial restructuring program" as mentioned above, will include layoffs of something like 35% of the saleried workforce. That's approx 20,000 workers who will be sh!t-canned

now that's what i call cutting costs!!

- Car Key Boi :cool:
 
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