The report on Canadian Tire is updated and rated Strong Buy at $170. The stock had soared after stellar sales and earnings growth in Q2 but has now fallen because Q3 sales growth was somewhat disappointing and earning per share were down versus the prior year. In large part the earnings decline was because the corporation had lower shipments to the dealer-owned stores while the stores actually had modestly higher sales – this will catch up. Analysts also seem to fear that Amazon will finally start to have a big impact on Canadian Tire. Earnings may indeed be lower in the next few quarters compared to absolutely stellar results in the comparable quarters. But I look at the fact that the price to book value ratio (2.1) is at the lower end of its normal range and the trailing P/E ratio is 9.0 and the forward P/E ratio is only 10.1 (meaning earnings are expected to decline). And I look at the strong track record. The future is never certain but I rate it a Strong Buy. Of course meanwhile the whole market might be down tomorrow on this Omicron virus development. It will be interesting to see how the futures markets open tonight.