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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Read More on TFII:
- TFI International price target raised to $158 from $144 at TD Cowen
- TFI International Stock (TSE:TFII) Hits All-Time High Despite Missing Q2 Earnings
- TFI International downgraded to Sector Perform from Outperform at National Bank
- TFI International reports Q2 adjusted EPS $1.59, consensus $1.73
- TFI International Announces 2023 Second Quarter Results
