The Globe and Mail reports in its Wednesday, Feb. 21, edition that BMO Nesbitt Burns analyst Tamy Chen has lowered her recommendation for Canadian Tire to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Ms. Chen gave her share target a $20 trim to $150. Analysts on average target the Class A shares at $154.10. Ms. Chen says in a note: "On the one hand, we acknowledge that the stock's muted reaction to Q4/23 results suggests a lot of the negative macroeconomic news is already priced in. In addition, future economic data that support rate cuts would be positive for the stock. But our argument is that the trajectory for earnings improvement from current levels has deteriorated vs. our previous assumptions, and based on our revised forecasts, we no longer find the current stock price compelling. Further, we note current Street forecasts are projecting a 17-per-cent CAGR in earnings per share over the next two years, which we consider as too optimistic." The Globe reported on Feb. 16 that Desjardins analyst Chris Li had reaffirmed his "buy" recommendation for Canadian Tire. The shares could then be had for $140.01.