NEW YORK, February 6 (FinanceEnquiry.com) - Analysts at Deutsche Bank Securities reiterate their Buy rating on the shares of International Papers (NYSE: IP). The 12-month target price is set to $39.
 
In a research note published on February 3, the analysts mention that International Paper reported solid quarter with underlying EPS of $0.66, beating the estimate and consensus of $0.58 and $0.60, respectively. International Paper exhibited an impressive performance, given the increased market d’time, lower prices and a huge drop at llim. The analysts maintain cautious optimistic outlook, as there is now new insight on TIN as the time for resolution closes in. In addition, further headwind in FY12 is expected from $120 million y/y increase in pension expenditure and lowered prices, the analysts add. Moreover, Industrial Packaging exhibited a strong quarter with EBIT of $316 million, ahead of 3Q11 and 4Q10’s of $301 million and $274 million, respectively. While NA box volume’s were -1% y/y, with prices at -$3 per ton q/q and linerbd of -$28 per ton q/q. Lastly, the Q4 was supported by $29 million lower q/q costs. Operating rate is kept at around 90%,39,000 maint & 214,000 market d’time, the analysts say.