tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Canadian Tire downgraded to Hold from Buy at TD Securities

TD Securities analyst Brian Morrison downgraded Canadian Tire (CDNAF) to Hold from Buy with a price target of C$184, down from C$201. Q2 results were slightly below consensus, but the “bigger issue” is that expectations were lofty and while there are many positive takeaways in the results, the “focal point” is that required investment will prove a greater headwind to leverage than previously forecast, the analyst tells investors.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1