Canadian Tire Corp Ltd Class A

CTC.A: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 235.00	Rfw	Cnphkbzj

Canadian Tire Closes 2022 With Solid Marks, but We See Near-Term Challenges; Shares Cheap

Erin Lash , Grace Na

Feb 16, 2023

We don’t plan to alter our CAD 198 fair value estimate materially for no-moat Canadian Tire after the company reported 2022 results. We maintain our view that the market fails to fully appreciate the firm’s vast product lineup (owned, national, and multitier), which affords flexibility during economic downturns. The shares trade roughly 13% below our intrinsic valuation even after a 5% pop on the earnings report, providing a buying opportunity.

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