The Globe and Mail reports in its Friday, April 12, edition that National Bank Financial analyst Zachary Evershed has reaffirmed his "sector perform" recommendation for Cascades. The Globe's David Leeder writes that Mr. Evershed trimmed his share target by $2.50 to $13.50 (all figures Canadian unless otherwise stated). Analysts on average target the shares at $13.25. Mr. Evershed says in a note: "While not indicative of the entire market, the benchmark linerboard index's response to the $70 (U.S.)-per-ton hike announced by major containerboard players in January remains uninspiring, reflecting only $40 (U.S.) per ton in February and stalling out in March. As we had previously hoped for a further $20 (U.S.) per ton, the reduction in our containerboard estimates sees our target fall. ... We maintain our cautious stance given volatility in the operating environment underscored by recent reports of peer market-related downtime in containerboard." The Globe reported on Feb. 23 that CIBC had cut Cascades to "neutral" from "outperformer." It was then worth $10.75. The Globe reported on April 1 that Desjardins analyst Frederic Tremblay was sticking with his "hold" call on Cascades, which could then be had for $9.73.