CIBC Cuts Cascades (OTCMKTS:CADNF) Price Target to C$11.00

Cascades (OTCMKTS:CADNFGet Rating) had its price objective trimmed by CIBC from C$14.00 to C$11.00 in a report issued on Monday, The Fly reports.

Several other analysts also recently issued reports on CADNF. TD Securities reduced their price target on Cascades from C$14.00 to C$10.50 in a research note on Friday, May 13th. BMO Capital Markets reduced their target price on shares of Cascades from C$20.00 to C$17.00 in a research report on Friday, May 13th. National Bank Financial lowered their price target on shares of Cascades from C$18.00 to C$14.00 in a research report on Friday, May 13th. Royal Bank of Canada dropped their price objective on shares of Cascades from C$17.00 to C$15.00 in a research note on Friday, May 13th. Finally, Desjardins lowered shares of Cascades from a buy rating to a hold rating in a research report on Wednesday, February 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $14.29.

Shares of CADNF stock opened at $8.05 on Monday. Cascades has a 12-month low of $7.02 and a 12-month high of $13.40. The firm has a 50 day moving average price of $9.95 and a two-hundred day moving average price of $10.44.

About Cascades (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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