How should we evaluate TGT compared to Canadian Tire in analyzing their BF P/E ratios from a relative value and historical average perspective? Canadian Tire has a lower P/E multiple, and it is trading at a larger historical premium than it usually does, so it is considered relatively undervalued when evaluating its P/E premium/discount level from a historical perspective. Canadian Tire has a lower P/E multiple, but it is trading at a smaller historical discount than it usually does, so it is considered relatively overvalued when evaluating its P/E premium/discount level from a historical perspective. TGT has a lower P/E multiple, but it is trading at a larger historical premium than it usually does so it is considered relatively overvalued when evaluating its P/E premium/discount level from a historical perspective.