The Globe and Mail reports in its Wednesday, Feb. 21, edition that Desjardins Securities analyst Frederic Tremblay expects to see a sequential decline in adjusted earnings before interest, taxes, depreciation and amortization when Cascades posts its fourth quarter 2023 financial results. The Globe's David Leeder writes that Mr. Tremblay is now forecasting EBITDA of $149-million, matching the consensus projection on the Street but down from $161-million in the previous quarter. Mr. Tremblay says in a note: "We expect containerboard's Q4 profitability to decline from Q3 due to raw material cost inflation, seasonality and 2023's price decline. In tissue, we expect adjusted EBITDA to be stable sequentially as the well-executed recovery that began in mid-2022 appears largely complete." Mr. Tremblay raised his full-year 2023 earnings-per-share projection by a penny to $1.76, however, he hiked his 2024 estimate to $1.38 from $1.17 based on an increase to his containerboard forecasts to "reflect the partial implementation of producers' announced price increase." Mr. Tremblay has an unchanged "hold" call for Cascades. He boosted his share target to $15.50 from $14. Analysts on average target the shares at $15.60.