International Paper(IP) ZACKS·2024-06-28 17:01Core Viewpoint - International Paper (IP) has received an upgrade to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects a positive earnings outlook for International Paper, which could lead to increased buying pressure and a rise in stock price [2]. - For the fiscal year ending December 2024, International Paper is expected to earn $1.86 per share, representing a decrease of 13.9% from the previous year [5]. Earnings Estimate Revisions - Analysts have raised their estimates for International Paper, with the Zacks Consensus Estimate increasing by 1.2% over the past three months [5]. - The correlation between earnings estimate revisions and near-term stock movements is strong, indicating that tracking these revisions can be beneficial for investment decisions [4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [4]. - The upgrade of International Paper to a Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for higher stock movement in the near term [7].