Canaccord Genuity Believes Canadian Tire (TSX: CTC) Won’t Stop Here

Canadian Tire (TSX: CTC), the Services sector company, was revisited by a Wall Street analyst on August 10. The company received a Buy on August 10 from Canaccord Genuity’s analyst Derek Dley, with a C$184 price target.

Dley has an average return of 7.2% when recommending Canadian Tire.

According to TipRanks.com, Dley is ranked #249 out of 4628 analysts.

Currently, the analyst consensus on Canadian Tire is Moderate Buy and the average price target is C$180.67, representing a -22.6% downside.

In a report issued on August 10, RBC Capital also reiterated a Buy rating on the stock with a C$190 price target.

Canadian Tire’s market cap is currently C$16.3B and has a P/E ratio of 24.3.

Canadian Tire Corp. Ltd. operates as a general merchandise retailer for gasoline, automotive, sports and home products. The company operates its business 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.

The company’s shares closed on Friday at C$233.45, close to its 52-week high of C$242.

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