A flurry of mixed market activity has been observed around
International Paper (IP). The company's pursuit to acquire
DS Smith and its subsequent approval to progress, has put it in a strong position. However, Brazil's
Suzano, initially preparing a massive bid, dropped its acquisition efforts causing IP shares to slip, yet resulting in a predictable uplift when Suzano confirmed it was terminating takeover negotiations. IP's new CEO,
Silvernail, has garnered positive sentiment. The company's Q1 earnings fell short on lower prices, while Q2 saw overperformance in earnings and revenue. Although, certain analysts have reduced earnings estimates for IP. Financially, IP's rising stock has been countered with worries about its weaker financial prospects. The vast majority of IP's stock is institutionally owned, demonstrating significant market confidence. Going forward, the company's commitment to listing on the London Stock Exchange if it seals the deal with DS Smith is a move being closely watched by the industry.
International Paper IP News Analytics from Wed, 18 Oct 2023 07:00:00 GMT to Sat, 29 Jun 2024 10:42:15 GMT -
Rating -2
- Innovation 0
- Information 6
- Rumor -1
