Downgrade Alert for International Paper (IP)
International Paper (NYSE:IP) was downgraded from Neutral to Underperform at Macquarie today. The stock closed yesterday at $47.03 on volume of 2.6 million shares, below average daily volume of 3.1 million.
International Paper Company produces and distributes printing paper, packaging, forest products, and chemical products. The Company operates specialty businesses in global markets as well as a broadly based distribution network. International Paper exports its products worldwide.
There is potential upside of 13.0% for shares of International Paper based on a current price of $47.03 and an average consensus analyst price target of $53.12. The stock should find initial support at its 50-day moving average (MA) of $40.54 and further support at its 200-day MA of $40.43.
In the past 52 weeks, shares of International Paper have traded between a low of $32.50 and a high of $54.05 and closed yesterday at $47.03, which is 45% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.6%.
SmarTrend is monitoring the recent change of momentum in International Paper. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of International Paper in search of a potential trend change.
Keywords: analyst upgrades/downgrades International Paper