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 null n/a n/a n/a 0

Comments

Emerging Growth

CMX Gold & Silver Corp.

CMX Gold & Silver Corp is an exploration stage company. The Company is engaged in the acquisition, exploration and development of silver and copper/gold properties in the USA.

Private Markets

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…