International Paper price target raised to $56 from $52 at RBC Capital

RBC Capital analyst Matthew McKellar raised the firm’s price target on International Paper to $56 from $52 and keeps an Outperform rating on the shares after its Q2 earnings beat. The firm has a positive view of the strength of management’s conviction in its ability to drive better performance over the medium term through improving reliability, sharpening its focus on customer strategy and investments, and reducing its operating cost base, the analyst tells investors in a research note.