The Globe and Mail reports in its Friday, Nov. 17, edition that National Bank Financial analyst Vishal Shreedhar has reaffirmed his "sector perform" recommendation for Metro. The Globe's David Leeder writes that Mr. Shreedhar cut his share target by $2 to $81. Analysts on average target the shares at $78.33. While Mr. Shreedhar expects the slowdown in Metro's earnings to be temporary, he figures the shares will "remain range-bound until it shows a path toward growth." Metro share have retreated more than $5 over the past two trading days to close Thursday at $7.25. The shares began their retreat after chief executive officer Eric La Fleche called 2024 a "transition year" with the company seeing "significant headwinds" as it invests in supply chain improvements, including automated distribution centres. Metro predicts adjusted net earnings per share in the year ahead to be in the range of flat-to-down by 10 cents per share. Mr. Shreedhar says in a note: "We believe Metro is a solid company which has delivered superior long-term returns. However, these attributes are adequately reflected in valuation." The Globe reported on April 5 that Mr. Shreedhar rated Metro "sector perform." It was then worth $75.17.