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blue-chip

One NYSE– Listed Paper Stock at Resistance Levels: International Paper Company

Mar 12, 2024 | Team Kalkine
One NYSE– Listed Paper Stock at Resistance Levels: International Paper Company

IP:NYSE
Investment Type
Large-cap
Risk Level
Action
Rec. Price (US$)

International Paper Company

Company Overview: International Paper Company (NYSE: IP) is a producer of renewable fiber-based packaging and pulp products with manufacturing operations. The Company operates in two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment is a manufacturer of containerboard in the United States. The Cellulose Fibers segment offers a product portfolio, including fluff, market, and specialty pulps. The Company operates over 24 pulp and packaging mills, approximately 163 converting and packaging plants, over 16 recycling plants, and over three bag facilities. Its production facilities are in Canada, Europe, North Africa, and Latin America.

As per our previous US Diversified Opportunities report published on ‘IP’ on 01st August 2023, Kalkine provided a ‘Buy’ stance on the stock at USD 29.44 based on “expected valuation upside, consistent dividend paying history, lower balance sheet risk, risk associated and trading levels and the stock price has now moved by ~23.71% since then and the price has achieved both resistance levels.

Noted below are the details of support and resistance levels provided in our previous report:

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