Wells Fargo analyst James Monigan lowered the firm’s price target on TFI International to $130 from $160 and keeps an Overweight rating on the shares. TFI maintained EPS guidance at $6.00-$6.50, the firm notes, adding that margin pressure in Truckload likely means 2024 will also be a transition year as EPS works it way back into the $8-$10 range. That said, segment margins have likely bottomed, Wells says.
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