Jefferies analyst Jonathan Matuszewski upgraded Canadian Tire (CDNAF) to Hold from Underperform with a price target of C$155, up from C$125. Macro data shows the Canadian consumer remains pressured, but the economy is responding more quickly than anticipated to easing monetary policy with green shoots in housing, debt servicing, and retail sales, the analyst tells investors. Shares are now trading at a discount to Canadian and U.S. peers that is “consistent with history,” the analyst added.
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