CIBC analyst Kevin Chiang lowered the firm’s price target on TFI International to $167 from $172 and keeps an Outperformer rating on the shares. The firm reduced estimates to reflect additional conservatism in a U.S. less-than-truckload recovery amid an “elongated” freight recession. However, the analyst expects sequential improvement in TForce freight with margin and weight per shipment improving on a quarter-over-quarter basis. The firm continues to like the risk/reward setup for TFI.
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Read More on TFII:
- TFI International price target lowered to C$230 from C$235 at Scotiabank
- TFI International shares ‘close to floor levels,’ says CIBC
- TFI International price target lowered to $176 from $178 at TD Cowen
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- TFI International upgraded to Outperform from Sector Perform at National Bank