Analysts Are Bullish on Top Materials Stocks: International Paper Co (IP), Largo Resources (LGO)


There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on International Paper Co (IP) and Largo Resources (LGO) with bullish sentiments.

International Paper Co (IP)

In a report issued on May 6, Gabrial Hajde from Wells Fargo maintained a Buy rating on International Paper Co, with a price target of $66.00. The company’s shares closed last Wednesday at $62.91, close to its 52-week high of $64.62.

According to TipRanks.com, Hajde is a 4-star analyst with an average return of 15.0% and a 76.4% success rate. Hajde covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Ardagh Group SA, and Sonoco Products.

Currently, the analyst consensus on International Paper Co is a Hold with an average price target of $58.78, which is a -6.7% downside from current levels. In a report issued on April 30, Jefferies also assigned a Buy rating to the stock with a $78.00 price target.

See today’s analyst top recommended stocks >>

Largo Resources (LGO)

In a report issued on May 13, Andrew Wong from RBC Capital maintained a Buy rating on Largo Resources, with a price target of C$20.00. The company’s shares closed last Wednesday at $13.36, close to its 52-week low of $12.97.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 20.7% and a 60.8% success rate. Wong covers the Basic Materials sector, focusing on stocks such as NexGen Energy, CF Holdings, and Mosaic Co.

Largo Resources has an analyst consensus of Strong Buy, with a price target consensus of $21.15, implying a 51.6% upside from current levels. In a report issued on May 17, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.

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