Scotiabank Forecasts Strong Price Appreciation for Cascades (TSE:CAS) Stock

Cascades (TSE:CAS) had its price target upped by analysts at Scotiabank from C$12.00 to C$13.50 in a research note issued on Monday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 8.00% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. TD Securities increased their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 7th. Desjardins increased their target price on Cascades from C$10.50 to C$13.50 and gave the company a “hold” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada lifted their price target on Cascades from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cascades presently has a consensus rating of “Moderate Buy” and an average target price of C$13.17.

Cascades Stock Up 3.0%

Cascades stock opened at C$12.50 on Monday. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. The stock has a market capitalization of C$1.27 billion, a PE ratio of 62.50, a price-to-earnings-growth ratio of 0.56 and a beta of 0.87. The business has a 50 day simple moving average of C$10.32 and a 200-day simple moving average of C$9.58. Cascades has a 12 month low of C$8.30 and a 12 month high of C$13.42.

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.