The Globe and Mail reports in its Tuesday, Jan. 23, edition that ahead of the release of Canadian Tire's fourth quarter 2023 financial results on Feb. 15, National Bank Financial analyst Vishal Shreedhar thinks the near-term consumer backdrop remains difficult, predicting a "soft" performance from its flagship retail stores. The Globe's David Leeder writes that Mr. Shreedhar maintained a "sector perform" recommendation and $152 share target for Canadian Tire. Analysts on average target the shares at $162.60. Mr. Shreedhar says in a note: "We expect Canadian Tire performance to be soft, reflecting well-stocked dealer inventory levels due to a combination of leftover inventory from the prior year. ... Our review of weather data indicates Q4/23 was warmer year-over-year and average snowfall was lower year-over-year, which suggests that additional winter shipments will be pressured, all else equal. ... We model slight Q4/23 retail gross margin rate expansion, largely reflecting lower supply chain costs, partly offset by higher promotional intensity. ... We see more attractive opportunities elsewhere in our coverage as a softening of consumer demand and uneven operating performance keep us on the sidelines."