June 12, 2019 / 3:12 PM / 5 months ago

BUZZ-Cascades Inc: Rises after TD Securities upgrades to "buy"

** Shares of paper packaging co rise 9% to C$9.74 after TD Securities upgrades to “buy” from “hold”

** Rating change addresses negative share-price trends, even as fibre input costs have continued to decline - brokerage

** Expects co’s board will formally approve conversion of the Bear Island paper mill into containerboard packaging facility in the coming weeks

** 3 of 6 brokerages rate the stock “buy” and 3 “hold”; their median PT is C$11.25

** Shares down 5.3% YTD

Reporting by Shradha Singh in Bengaluru

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