National Bank Financial Increases Cascades (CAS) Price Target to C$21.00
Cascades (TSE:CAS) had its target price boosted by investment analysts at National Bank Financial from C$18.50 to C$21.00 in a research note issued on Monday. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 33.59% from the stock’s previous close.
Several other analysts also recently issued reports on the stock. Desjardins upped their price objective on shares of Cascades from C$15.50 to C$19.00 in a report on Tuesday, January 30th. TD Securities raised shares of Cascades from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$16.50 to C$18.00 in a report on Monday, January 29th. CIBC upped their price objective on shares of Cascades from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Scotiabank reissued a “sector perform” rating and issued a C$18.00 price target on shares of Cascades in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$18.29.
Shares of Cascades (CAS) traded down C$0.05 on Monday, hitting C$15.72. 97,065 shares of the stock traded hands, compared to its average volume of 266,390. Cascades has a 52 week low of C$12.20 and a 52 week high of C$18.20. The firm has a market cap of $1,490.00, a price-to-earnings ratio of 3.37 and a beta of 0.07.
In other Cascades news, insider Bernard Lemaire sold 400,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of C$15.48, for a total value of C$6,192,000.00. Over the last three months, insiders sold 519,300 shares of company stock valued at $7,705,957.
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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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