BofA Securities analysts upgraded International Paper Company (NYSE:IP) from Underperform to Buy rating, raising the price target from $37 to $42. The firm’ upgrade is based on research, including proprietary Box Surveys and insights from the BofA Global Ag & Materials Conference, indicating the onset of a containerboard upcycle.

Commentary from International Paper suggests that, following a period of instability, market conditions have stabilized and are on an upward trajectory. The company is also expected to benefit from its strategic “Value over Volume” approach, according to the analyst’s observations.

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