The Globe and Mail reports in its Thursday edition that Canaccord analyst Luke Hannan has cut Canadian Tire to "hold" from "buy." The Globe's David Leeder writes that Mr. Hannan slashed his share target by $13 to $154. Analysts on average target the Class A shares at $161.30. Mr. Hannan says he is "moving to the sidelines" on Canadian Tire. The company releases financial results on Feb. 15. Mr. Hannan is forecasting revenue of $4.87-billion, a drop of 9 per cent year-over-year and below the Street's expectation of $4.92-billion. He expects adjusted earnings per share to drop 53 per cent to $4.43 from $9.34 in fiscal 2022 and also below the consensus of $4.98. He says in a note: "Recall, the softness in demand Canadian Tire witnessed in its retail segment in Q3/23 extended into the early part of Q4/23, a trend we believe that worsened due to the milder-than-usual winter experienced across the country. ... Altogether, we expect a noisy quarter for the retail segment, particularly when considering that the softer retail environment should lead to a lower MSA [margin sharing arrangement] being recorded in Q4/23." The Globe reported on Feb. 8, 2023, that Mr. Hannan rated Canadian Tire "outperform," when it was worth $163.80.