Jefferies lowered the firm’s price target on International Paper (IP) to $32 from $33 and keeps a Hold rating on the shares. While demand remains muted for the group, in-line to modest beats “should be enough for relief rallies,” the analyst tells investors in a Paper & Packaging Q3 earnings preview. Walmart (WMT) comments that the company has seen some impact from GLP-1 has led to the selloff in the sector, with Ball (BALL), Crown Holdings (CCK) and Berry Global (BERY) “particularly hard hit,” the analyst noted.
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