International Paper Co (NYSE:IP) on Thursday reported mixed results for the first quarter.

The company posted quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 14 cents per share. The company reported quarterly sales of $5.970 billion which missed the analyst consensus estimate of $6.014 billion.

“This quarter, we delivered meaningful progress across the business. In North America, our commercial actions are gaining traction and helping us outgrow the market, while we advance cost-out efforts and make solid gains in mill and box plant productivity. In EMEA, we’re accelerating commercial and cost initiatives while a small core team is focusing on the planned separation,” said International Paper Chairman and CEO Andy Silvernail. “We still have work to do to improve consistency and reliability, but the primary pressures this quarter came from a tougher macro environment, including ongoing inflation and the severe winter storm.”

International Paper shares rose 4.8% to trade at $31.88 on Friday.

These analysts made changes to their price targets on International Paper following earnings announcement.

  • RBC Capital analyst Matthew McKellar maintained International Paper with an Outperform rating and lowered the price target from $48 to $45.
  • JP Morgan analyst Detlef Winckelmann maintained the stock with a Neutral and lowered the price target from $46 to $43.

Considering buying IP stock? Here’s what analysts think:

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