CIBC Increases Cascades (TSE:CAS) Price Target to C$13.00

Cascades (TSE:CAS) had its target price boosted by equities research analysts at CIBC from C$12.00 to C$13.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 7.53% from the company’s previous close.

A number of other research analysts also recently weighed in on CAS. Scotiabank increased their price objective on shares of Cascades from C$12.00 to C$13.50 in a research report on Monday. 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 report on Friday. Desjardins raised their price objective on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a research report on Friday. Finally, TD Securities raised their price objective 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.com, Cascades has a consensus rating of “Moderate Buy” and a consensus target price of C$13.17.

Cascades Price Performance

Shares of Cascades stock traded up C$0.21 on Monday, hitting C$12.09. 204,775 shares of the company traded hands, compared to its average volume of 225,857. The firm’s 50-day simple moving average is C$10.21 and its 200 day simple moving average is C$9.54. Cascades has a 12-month low of C$8.30 and a 12-month high of C$13.42. The company has a market cap of C$1.22 billion, a P/E ratio of -151.13, a P/E/G ratio of 0.56 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

Cascades Company Profile

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.