The Globe and Mail reports in its Wednesday, Feb. 14, edition that Desjardins analyst Chris Li has reaffirmed his "buy" recommendation for Canadian Tire. The Globe's David Leeder writes that Mr. Li continues to target the shares at $170. Analysts on average target the shares at $161.10. Mr. Li says Canadian Tire investors need to have "patience." That is because he expects Canadian Tire to post "weak" fourth quarter results on Thursday before the bell. Mr. Li says in a note: "We expect 4Q and 2024 to be challenging, impacted by accelerating pressures on discretionary spending, ongoing shift toward more essential and value offerings, unfavourable weather, dealers destocking and being more cautious on forward purchases, heightened competition, higher write-off rate, etc. ... While we believe the current valuation largely reflects the macro challenges, we expect further share price volatility until earnings visibility improves." Mr. Li is projecting adjusted earnings per share of $4.36 for the quarter, well below the consensus forecast on the Street of $4.84. Excluding a $3 per share negative impact from a margin-sharing agreement accounting change, he expects earnings per share to decline 23 per cent year-over-year.