Canadian Tire Corporation (CTC-A:CA)
Desjardins Securities issued a research report on Canadian Tire, and raised the 12 month target has increased the 12 month target price forecast to C$175 from the previous C$170 per share. The valuation upgrade follows the company’s robust first-quarter performance, which showcased improvements across all its retail banners. The strong results indicate effective execution of Canadian Tire’s retail strategy, contributing to a positive outlook on the company’s future growth and profitability. Desjardins’ revised target reflects confidence in Canadian Tire’s ability to sustain momentum amid a competitive retail landscape.
Stock Forecast & Analysis
Based on the forecasts from 9 analysts, the average target price for Canadian Tire Corporation Ltd over the next 12 months is CAD 161.65. The consensus analyst rating for the stock is Buy, indicating positive sentiment among analysts regarding the company’s prospects.
Stock Target Advisor’s analysis shows a more cautious outlook, rating the stock as Slightly Bearish. This assessment is based on an analysis that identifies 6 positive signals and 9 negative signals related to the company’s fundamentals and market conditions.
As of the most recent closing, the stock was priced at CAD 160.30. Canadian Tire’s stock performance has shown strong positive momentum recently, with a +6.32% increase over the past week, +12.25% rise over the past month, and a +10.06% gain over the past year.
The mixed outlook—analyst optimism versus a slightly bearish technical assessment—suggests that while the company has shown solid recent performance, there may be underlying factors that warrant caution moving forward.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
