CIBC Issues Positive Forecast for Cascades (TSE:CAS) Stock Price

Cascades (TSE:CAS) had its price objective hoisted by CIBC from C$12.00 to C$13.00 in a research report issued on Monday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 7.53% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price target on shares of Cascades from C$12.00 to C$13.50 in a research report on Monday. Desjardins increased their target price on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a research report on Friday. Royal Bank Of Canada boosted their price objective on Cascades from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Friday. Finally, TD Securities upped their target price on Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$13.17.

Cascades Trading Up 1.8%

CAS traded up C$0.21 during trading on Monday, reaching C$12.09. 204,775 shares of the company’s stock were exchanged, compared to its average volume of 225,857. The company’s fifty day moving average price is C$10.21 and its 200-day moving average price is C$9.54. Cascades has a fifty-two week low of C$8.30 and a fifty-two week high of C$13.42. The firm has a market capitalization of C$1.22 billion, a PE ratio of -151.13, a P/E/G ratio of 0.56 and a beta of 0.87. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers.