The Globe and Mail reports in its Wednesday edition that Canaccord analyst Luke Hannan has reaffirmed his "buy" recommendation for Canadian Tire. The Globe's David Leeder writes that Mr. Hannan tweaked his share target lower by a loonie to $202. Analysts on average target the shares at $199.80. The Globe says Mr. Hannan has "modest" expectations for Canadian Tire's retail performance ahead of its first quarter earnings release on May 11 due to "tougher" comps and the impact of a warm winter. Mr. Hannan says in a note: "Higher levels of seasonal inventory are expected to weigh on both Canadian Tire retail sales and revenue for H1/23, with a $150-million revenue headwind that will be felt more in Q1/23 than Q2/23, though we'll be curious to hear from management whether the magnitude or the timing of this headwind has changed due to the recent fire at the A.J. Billes Distribution Centre. Further, modestly higher promotional intensity across all three of Canadian Tire's retail banners, strong comps, and a softer discretionary spending environment suggest year-over-year comparable sales will be relatively modest." The Globe reported on March 3 that insiders were buying shares. it was then worth $324.50.