RBC Capital Slashes Cascades Price Target By 12%

• Cascades Inc. (TSX:CAS) (OTC:CADNF) price target has been lowered to C$15 from C$17 by RBC Capital analyst Paul C. Quinn after the Q1 results.
• The analyst maintained the Outperform rating on the shares.
• Quinn mentions that the company reported 1Q22 Adjusted EBITDA of $58 million, which was well below their $89 million forecast and consensus of $90 million.
• Shares were down ~23% following the release of results. Quinn thinks that demonstrating improving performance in the Tissue business will be critical over the next couple of quarters.
• Price Action: CAS shares are trading higher by 7.10% at C$9.81 on TSX, and CADNF is higher by 11.97% at $7.86 on the last check Friday.