Cascades Receives a Hold from Scotiabank

By Jason Carr

Cascades (TSX: CAS), the Consumer Goods sector company, has received a rating update from a Wall Street analyst on August 10. The company received a Hold on August 10 from Scotiabank’s analyst Benoit Laprade, with a C$17 price target.

According to TipRanks.com, Laprade is a 4-star analyst with an average return of 3.3% and a 74.4% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Methanex Corp, and Domtar Corp.

Cascades has an analyst consensus of Moderate Buy, with a price target consensus of C$16.67.

Cascades’ market cap is currently C$1.36B and has a P/E ratio of 6.2.

Cascades, Inc. produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products and Tissue Papers.

The company’s shares closed on Friday at C$14.37.