Scotiabank Boosts Cascades (TSE:CAS) Price Target to C$13.50

Cascades (TSE:CAS) had its price objective increased by investment analysts at Scotiabank from C$12.00 to C$13.50 in a note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 11.66% from the stock’s current price.

Several other brokerages also recently weighed in on CAS. Royal Bank Of Canada raised their target price on Cascades from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Friday. TD Securities increased their price target on Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday. Finally, Desjardins lifted their price objective on Cascades from C$10.50 to C$13.50 and gave the stock a “hold” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$13.17.

Cascades Stock Up 1.8%

Shares of CAS traded up C$0.21 during midday trading on Monday, reaching C$12.09. 204,775 shares of the company were exchanged, compared to its average volume of 225,857. Cascades has a 1-year low of C$8.30 and a 1-year high of C$13.42. The stock has a 50-day moving average price of C$10.21 and a 200-day moving average price of C$9.54. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37. The company has a market cap of C$1.22 billion, a price-to-earnings ratio of -151.13, a P/E/G ratio of 0.56 and a beta of 0.87.

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.