International Paper price target lowered to $36 from $38 at Citi

Citi lowered the firm’s price target on International Paper to $36 from $38 and keeps a Neutral rating on the shares. The analyst trimmed estimates for the containers and packaging space ahead of the Q3 earnings reports to reflect slightly weaker than expected volumes and rising raw material costs. Sentiment is low and investors may be expecting fiscal year guides at the lower end of ranges, the analyst tells investors in a research note.