The Globe and Mail reports in its Friday, April 17, edition that TD Cowen analyst Sean Steuart expects a "mixed" earnings season for forest products companies, but he predicts investors will be more focused on directional commentary on cost inflation for the remainder of the year and its associated knock-on effects on demand. The Globe's David Leeder writes that Mr. Steuart continues to rate Cascades "buy." He cut his share target by a loonie to $14. Analysts on average target the shares at $14.41. Mr. Steuart made a number of adjustments to his forecast for 2026 and 2027, including: "1) Higher lumber prices, with average annual increases of 9 per cent in 2026 and 3 per cent in 2027, reflecting supply-driven gains that have exceeded expectations early in 2026. 2) Higher assumed costs for energy and energy-derivative inputs, particularly freight and chemicals. 3) Lower shipment forecasts for several commodities, driven by a weakening mid-term demand outlook. Cumulative expected year-over-year EBITDA growth for our coverage set is negative 32 per cent in 2026 and negative 28 per cent in 2027." The Globe reported on Oct. 17 and Jan. 23 that Mr. Steuart rated Cascades "buy." It was then worth $10.31 and $13.32.