TFI International price target raised to $129 from $122 at Credit Suisse

Credit Suisse analyst Ariel Rosa raised the firm’s price target on TFI International to $129 from $122 and keeps an Outperform rating on the shares following quarterly results. The firm notes that top-line weakness was reflected across a range of metrics. But offsetting top-line weakness, margins improved year-over-year in 3 of its 4 segments, with only a modest decline in LTL operating ratio. The company said it continues to see a path to margin improvement through the migration of its IT systems and fleet renewal, reiterating its expectation to drive LTL OR margin to sub-80, Credit Suisse says.