IP was down to $1.40 or 13.3% on Friday...
see article below on analyst downgrades and risks facing IP...
http://biz.yahoo.com/ap/090130/international_paper_mover.html?.v=2
One of the main analysts that covers this stock said earnings will remain "cyclically depressed for IP in the near-term"
This further affirms my point that IP is undoubtedly struggling with a global demand slump and economic crisis. That being said, I think we still bought it at the right time and that even though it may take a few months, this will eventually be a very profitable position being that the company is better positioned than its competitors, and is still the largest company in the paper and forest products industry, and with the most market share.
No comments:
Post a Comment