The Globe and Mail reported on Friday, May 12, edition that National Bank Financial analyst Vishal Shreedhar is sticking with his "outperform" recommendation for Canadian Tire. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shreedhar, however, gave his share target a $6 trim to $195. Analysts on average target the Class A shares at $197.50. Mr. Shreedhar describes Canadian Tire's first quarter performance as "tepid." However, now he thinks its is positioned to benefit from "positive" April sales. Mr. Shreedhar says in a note: "Canadian Tire saw the first slowdown in consumer spending (flat year-over-year) since 2020. Pressure was observed across all income groups. By category, growth was observed in essentials offset by a decline in non-essentials. Canadian Tire also noted that unfavourable weather impacted sales. ... Looking through 2023, we anticipate improving performance given easier y/y comparisons in H2/2023, lower logistics costs (as inventory normalizes), and lower product costs. Management expects $150-million to $200-million in DC fire-related disruption costs for Q2/23 to be largely recovered through the year."