RBC Capital analyst Walter Spracklin raised the firm’s price target on TFI International (TFII) to $155 from $120 and keeps an Outperform rating on the shares. The stock is hitting all-time highs despite a highly challenging macro environment, which is warranted based on the expectation for up to $500M in tuck-in transactions in 2023 and over $2B in dry powder for a larger transaction expected in 2024, the analyst tells investors in a research note. The shutdown of Yellow Corp. (YELL) also poses a unique revenue growth opportunity, the firm added.
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