Cascades price target raised to C$13 from C$12 at CIBC

CIBC raised the firm’s price target on Cascades (CADNF) to C$13 from C$12 and keeps a Neutral rating on the shares. The move higher largely reflects the firm’s weaker Canadian dollar forecast. Heading into 2025, CIBC generally continues to favor the packaging names over wood/building products. With limited signs of renovation spending rebounding this year given stubbornly high mortgage rates, the firm has tempered its demand expectations for wood products in 2025.