01:51 PM EST, 03/06/2024 (MT Newswires) -- A number of Canadian retailers have reported continued weakness in the consumer over calendar Q4/23. In particular, both Loblaw and Metro have reported gains in their discount businesses while Canadian Tire reported a challenging Q4/23, notes BMO's Tamy Chen.

"Due to EMP's under-emphasis in the discount grocery segment and an apparent worsening of the consumer with little signs of trade-up, we have made downward revisions to our EMP estimates," she adds.

Target price cut to $37 (from $39). Market Perform.

Price: 34.05, Change: +0.13, Percent Change: +0.38