TFI International price target lowered to $160 from $170 at Stephens

Stephens lowered the firm’s price target on TFI International to $160 from $170 and keeps an Overweight rating on the shares. The company’s recently reported Q3 results were “noisy” and fell short of investor expectations across several areas, the analyst tells investors. While the freight cycle is doing no favors for the company, Stephens has confidence in the company’s proven ability to execute and expects the termination of the TSA costs related to its acquisition of U.S. LTL assets will help OR into the upper-80s in 2024.