Canadian Tire (CDNAF) Receives a Buy from CIBC

By Austin Angelo

CIBC analyst Mark Petrie maintained a Buy rating on Canadian Tire (CDNAFResearch Report) yesterday and set a price target of C$178.00. The company’s shares closed last Monday at $110.15.

According to TipRanks.com, Petrie is a 5-star analyst with an average return of 15.4% and a 64.5% success rate. Petrie covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Canada Goose Holdings, and Aritzia.

Canadian Tire has an analyst consensus of Moderate Buy, with a price target consensus of $132.02, representing a 19.7% upside. In a report issued on January 29, RBC Capital also maintained a Buy rating on the stock with a C$188.00 price target.

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Canadian Tire’s market cap is currently $6.79B and has a P/E ratio of 13.05. The company has a Price to Book ratio of 2.25.

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Canadian Tire Corp. Ltd. operates as a general merchandise retailer for gasoline, automotive, sports and home products. The company operates through three segments: Retail, CT REIT and Financial Services. The Retail segment comprises of the living, playing, fixing, automotive, seasonal & gardening, apparel and sporting goods categories.