International Paper rises after Citigroup resumes coverage with 'buy' rating

Packaging company International Paper's IP.N shares up 2% at $52.39

Brokerage Citigroup resumes coverage with "buy" rating and PT of $60

Expects significant earnings improvement potential from DS Smith acquisition and cost-saving measures

"Earnings can ramp quickly from '26 as IP moves closer to its $2B medium-term cost savings target and drives further synergy realization with DS Smith" - brokerage

Views March 25 investor day as a catalyst and expects co to raise its target in terms of cost savings and additional revenue from its acquisition of DS Smith

IP stock has risen 5.8% YTD including session's moves