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Cascades (CAS) Gets a Sell Rating from CIBC


Cascades (CAS), the Consumer Goods sector company was revisited yesterday, and remains overvalued for at least one analyst on the street. Analyst Hamir Patel from CIBC rated Cascades (CAS) a Sell, setting a C$11 price target.

According to TipRanks.com, Patel is a 4-star analyst with an average return of 6.3% and a 45.7% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.

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Cascades has an analyst consensus of Moderate Buy, with a price target consensus of C$13.88.

Based on Cascades’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$1.17 billion and net profit of C$36 million. In comparison, last year the company earned revenue of C$1.08 billion and had a net profit of C$57 million.

Cascades, Inc. produces, converts and markets packaging and tissue products composed mainly of recycled fibres. It operates through the following business segments: Containerboard, Boxboard Europe, Specialty Products and Tissue Papers.

The company’s shares closed on Monday at C$10.57.

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