Cascades Inc (CAS) Stock Rating Lowered by Desjardins
Cascades Inc (TSE:CAS) was downgraded by research analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a C$15.00 price objective on the stock, down from their prior price objective of C$18.00. Desjardins’ price objective points to a potential upside of 13.46% from the company’s current price.
Several other brokerages also recently commented on CAS. Scotiabank restated a “sector perform” rating and issued a C$17.00 target price on shares of Cascades in a research note on Monday, July 24th. Royal Bank Of Canada cut their target price on Cascades from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Thursday, August 17th. National Bank Financial cut their target price on Cascades from C$21.00 to C$18.50 and set an “outperform” rating for the company in a research note on Friday. TD Securities cut their target price on Cascades from C$18.00 to C$16.50 and set a “hold” rating for the company in a research note on Friday. Finally, CIBC downgraded Cascades from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cascades currently has a consensus rating of “Hold” and a consensus price target of C$16.71.
Shares of Cascades (CAS) traded down C$1.09 during midday trading on Monday, reaching C$13.22. The company’s stock had a trading volume of 577,326 shares, compared to its average volume of 240,148. Cascades has a fifty-two week low of C$10.95 and a fifty-two week high of C$18.20.
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.
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