Truist Financial maintains a Buy rating for International Paper Co with a $59.00 price target, citing a recent earnings release showing a quarterly revenue of $5.9 billion and a GAAP net loss of $104 million. The company has a Moderate Buy analyst consensus rating with a $57.25 average price target, representing a 12.45% upside. Corporate insider activity is negative, with an increase in insiders selling shares over the past quarter.
Truist Financial has maintained its Buy rating for International Paper Co (IP) with a price target of $59.00, according to a recent earnings release. The company's second-quarter revenue stood at $5.9 billion, while its GAAP net loss reached $104 million. Despite the net loss, Truist Securities sees potential in International Paper's financial performance and growth trajectory.
The Moderate Buy analyst consensus rating, with an average price target of $57.25, indicates a 12.45% upside. Truist Securities cited the company's strong operational efficiency and robust financial health as reasons for the positive outlook. The firm's recent earnings report, which exceeded market expectations, highlighted International Paper's ability to navigate the current economic environment.
However, corporate insider activity has been negative, with an increase in insiders selling shares over the past quarter. This could indicate a cautious stance among insiders, potentially reflecting their assessment of the current market conditions or the company's future prospects.
Truist Financial's positive outlook on International Paper Co is supported by the company's strong operational efficiency and robust financial health. The firm's reaffirmation of the Buy rating and the increase in the price target reflect its confidence in IP's ability to continue its growth trajectory despite the challenges posed by the current economic environment.
References:
[1] https://www.investing.com/news/analyst-ratings/truist-securities-raises-exelixis-stock-price-target-to-56-on-positive-outlook-93CH-4136057
[2] https://www.investing.com/news/analyst-ratings/truist-securities-downgrades-golden-entertainment-stock-on-strat-weakness-93CH-4137579
[3] https://www.nasdaq.com/articles/loan-growth-higher-rates-support-truists-q2-earnings
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