International Paper

IP · NYSE

$33.69−$0.06 (−0.18%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $33.75

IP analyst rating

BuyConsensus of 9 analysts over the last 12 months. 89% rate it a buy.

Strong buy0
Buy8
Hold1
Underperform0
Sell0

12-month price target · 15 analysts

Average $47.45 (+40.8% upside)

Low: $39.58
Now: $33.69
High: $54.60

Upgrades and downgrades

The latest rating actions, newest first

IP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 12, 2026	Maintains	Buy	$49.00 → $41.00	46%
Wells Fargo	Oct 7, 2026	Maintains	Overweight	$46.00 → $42.00	51%
UBS	Oct 5, 2026	Maintains	Neutral	$47.00 → $35.00	29%
Citigroup	Oct 2, 2026	Maintains	Buy	$48.00 → $47.00	56%
Argus Research	Sep 24, 2026	Maintains	Buy	$45.00	67%
JP Morgan	Sep 23, 2026	Maintains	Overweight	$61.00 → $62.00	35%
UBS	Jul 31, 2026	Maintains	Neutral	$40.00 → $47.00	29%
Citigroup	Jul 31, 2026	Maintains	Buy	$43.00 → $48.00	56%
RBC Capital	Jul 31, 2026	Maintains	Outperform	$48.00 → $52.00	28%
Wells Fargo	Jul 31, 2026	Maintains	Overweight	$42.00 → $46.00	51%

The case for and against

Updated Oct 18, 2026

Bull case

International Paper is benefiting from a stronger strategic and competitive position under Andy Silvernail’s leadership since Spring 2024, with management pursuing cost-reduction, reliability, and asset-optimization initiatives that should lift earnings power over time. Its core North American containerboard franchise looks increasingly attractive as industry capacity take-out since early 2025 tightens supply-demand dynamics, while box shipment volumes have outperformed the market for the third consecutive quarter and management sees 2026 volumes up ~2% versus flat industry growth. Valuation also supports the positive view, with the stock around ~7.3x on 2026 adjusted EBITDA of $3.25 billion and less than 6x EV/EBITDA on 2027 numbers, while the DS Smith acquisition expands its European presence and its focused, lower-cost footprint should support free cash flow.

Bear case

International Paper is facing a deteriorating fundamental setup as it cut 2026 adjusted EBITDA guidance to $3.2-3.5 billion from $3.5-3.7 billion after a 1Q miss and a weak 2Q outlook, with Q1 adjusted EBITDA of $677 million below consensus. Demand for corrugated packaging remains volatile and economically sensitive, and box demand has weakened again since Feb of 2025 even as higher costs, weaker volumes, and transition expenses weigh on margins. The company also faces new containerboard supply in North America and Europe, while the early 2025 DS Smith acquisition and planned de-merger until 2027 add execution risk and a potential investor overhang.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.