International Paper (IP)

Car Key Boi

Well-known member
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.


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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