The Globe and Mail reports in its Friday, Feb. 9, edition that Scotia Capital analyst George Doumet has reaffirmed his "sector outperform" recommendation for Canadian Tire. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet lowered his share target to $158 from $160. Analysts on average target the Class A shares at $161.10. The Globe says Mr. Doumet is expecting a "tough" backdrop for the fourth quarter of 2023 and first quarter of 2024. Mr. Doumet says in a note: "We are below consensus for Q4 (and Q1) given the particularly challenging weather, softening macro and tough comparisons. That said, we believe Canadian Tire is doing a good job managing the controllables -- with the recently announced opex and capital preservation measures. While we acknowledge that visibility around the timing of trough earnings is cloudy, we see significant value in Canadian Tire shares today (trading at nine times 2025 estimated EPS), especially when accounting for a potentially positive outcome from the CTFS strategic review." The Globe reported on Oct. 31 that Mr. Doumet had reaffirmed his "sector outperform" recommendation for Canadian Tire when it could be had for $136.