Cascades (OTCMKTS:CADNF) Given New C$17.00 Price Target at Scotiabank

Cascades (OTCMKTS:CADNF – Get Rating) had its target price decreased by stock analysts at Scotiabank from C$17.50 to C$17.00 in a research note issued on Friday, The Fly reports.

A number of other research firms also recently commented on CADNF. National Bank Financial reduced their price objective on shares of Cascades from C$18.00 to C$14.00 in a report on Friday, May 13th. CIBC cut their price target on shares of Cascades from C$14.00 to C$11.00 in a report on Monday, May 16th. TD Securities cut their price target on shares of Cascades from C$14.00 to C$10.50 in a report on Friday, May 13th. Royal Bank of Canada cut their price target on shares of Cascades from C$17.00 to C$15.00 in a report on Friday, May 13th. Finally, BMO Capital Markets cut their price target on shares of Cascades from C$20.00 to C$17.00 in a report on Friday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $13.71.

Shares of OTCMKTS:CADNF traded down $0.21 during midday trading on Friday, reaching $7.50. 1,798 shares of the company’s stock were exchanged, compared to its average volume of 2,382. The company’s 50 day simple moving average is $8.97 and its two-hundred day simple moving average is $9.99. Cascades has a 12 month low of $7.02 and a 12 month high of $13.40.

Cascades Company Profile (Get Rating)

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

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