BRIEF: Growth estimates spur International Paper's stock to rise

Commercial Appeal (Memphis, TN) |

June 30--International Paper Co. shares jumped almost 3 percent Monday.

A report by business magazine Barron's said shares of the Memphis-based manufacturer could soar about 40 percent in the next 12 months on an improving global economy, stock buybacks and higher dividends.

IP chief executive officer John Faraci told Barron's that's IP's dividend could rise to $1.80 to $2.00 per share of stock. It is currently $1.40 per share.

Barron's cited Wall Street analysts who figure IP stock might top $70 a share in the next year, or 43 percent above current levels.

IP stock closed Monday at $50.47 per share, a gain of $1.42.

International Paper, the nation's largest producer of corrugated shipping boxes, employs about 2,400 people in Memphis.

___

(c)2014 The Commercial Appeal (Memphis, Tenn.)

Visit The Commercial Appeal (Memphis, Tenn.) at www.commercialappeal.com

Distributed by MCT Information Services

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
VCOR Visiber57 Corp 2.50 0.00 0.00 0

Comments


Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

World Economic Forum at Davos 2019 - Dr Oliver Krause Founder Untitled Inc Part 1

Matt Bird sits down with Dr Oliver Krause, Founder Untitled Inc, in part 1 of this 2 part interview at the World Economic Forum at Davos 2019

Emerging Growth

DirectView Holdings Inc

DirectView Holdings Inc designs and installs surveillance systems, digital video recording and services. The company through its subsidiaries operates within two divisions security and surveillance and video conferencing services.