Thursday, April 16, 2009

IP rallies 22% on 4/15....down 1/2 pct on 4/16

IP rallied 22% and was as high as 9.13 on 4/15. This significant rise was attributed to a lead analyst upgrade that was supported by belief that the worst is over for the paper industry. That Deutsche Bank analyst changed IP to a "BUY" with a price target of $11. IP Closed today at 8.75. I still think we should hold on to this for the same reasons I've cited over and over and I hope this upgrade is a game changer for investor confidence with regard to IP.

No comments: