Scotiabank Sticks to Its Hold Rating for Cascades

By Ryan Adsit

Cascades (TSX: CAS), the Consumer Goods sector company, was revisited by a Wall Street analyst yesterday. The company received a Hold rating from Scotiabank’s analyst Benoit Laprade, with a C$16.75 price target.

According to TipRanks.com, Laprade is a 5-star analyst with an average return of 9.1% and a 82.2% 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$18.15.

The company has a one-year high of C$18.20 and a one-year low of C$10.95. Currently, Cascades has an average volume of 210.6K.

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 Thursday at C$15.96.