TFI International price target lowered to $133 from $153 at RBC Capital

RBC Capital analyst Walter Spracklin lowered the firm’s price target on TFI International to $133 from $153 and keeps an Outperform rating on the shares. The stock was under pressure on weak TL results and a challenging macro outlook, but while TL look to be a headwind into next year and the macro backdrop is challenging, the firm also sees upside to the shares, reflecting over $2B in dry powder for a larger transaction expected in 2024, the analyst tells investors in a research note.