Cascades Inc (CAS) Price Target Cut to C$14.00

Cascades Inc (TSE:CAS) had its price target cut by stock analysts at CIBC from C$18.00 to C$14.00 in a research report issued to clients and investors on Monday. CIBC’s price objective suggests a potential upside of 5.90% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. National Bank Financial dropped their price objective on shares of Cascades from C$21.00 to C$18.50 and set an “outperform” rating for the company in a research note on Friday. Scotiabank reiterated a “sector perform” rating and issued a C$17.00 price target on shares of Cascades in a report on Sunday, July 30th. Desjardins decreased their price target on shares of Cascades from C$17.50 to C$16.00 in a report on Friday, August 11th. Royal Bank Of Canada decreased their price target on shares of Cascades from C$17.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Friday, August 11th. Finally, TD Securities reduced their target price on shares of Cascades from C$18.00 to C$16.50 and set a “hold” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Cascades presently has a consensus rating of “Hold” and an average price target of C$16.71.

Cascades (CAS) traded down C$1.09 during midday trading on Monday, reaching C$13.22. 577,326 shares of the company traded hands, compared to its average volume of 240,148. Cascades has a 52-week low of C$10.95 and a 52-week high of C$18.20.

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About Cascades

Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.

Analyst Recommendations for Cascades (TSE:CAS)

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