International Paper resumed with a Buy at Citi

Citi analyst Anthony Pettinari resumed coverage of International Paper (IP) with a Buy rating and $60 price target The firm sees “significant” earnings improvement potential for International Paper, from both internal cost-out and DS Smith synergies, potentially pushing its 2027 EBITDA close to $5B. The company’s earnings can ramp quickly from 2026 as IP moves closer to its $2B medium-term cost savings target and drives further synergy realization with DS Smith, the analyst tells investors in a research note. Citi views the March 25 investor day as a catalyst for the shares and expect International Paper to raise its original synergy target of $530M provided last April.