The Globe and Mail reports in its Tuesday edition that National Bank analyst Vishal Shreedhar has reaffirmed his "sector perform" recommendation for Canadian Tire. The Globe's David Leeder writes that Mr. Shreedhar gave his share target a $19 trim to $166. Analysts on average target the Class A shares at $181.80. The Globe says Mr. Shreedhar believes an "uneven" operating performance and consumer concerns are weighing on Canadian Tire shares. He expects looming mortgage renewals to pressure spending even further moving forward. Mr. Shreedhar says in a note: "Our analysis indicates incremental consumer pressure on disposable income to more fulsomely manifest over the next several years as Canadians renew their mortgage. Media reports have indicated that over $300-billion in mortgages are expected to be due for renewal in each of the next two years (we estimate $326-billion in 2024 and $362-billion in 2025). We estimate incremental disposable income pressure of $600-plus per month for those renewing from 2024 through 2026 (forward mortgage rates extrapolated from the B.C. Real Estate Association outlook)." The Globe says Mr. Shreedhar expects to see "muted" retail sales, "reflecting cautious consumer behaviour."