TFI International price target raised to $175 from $167 at CIBC

CIBC analyst Kevin Chiang raised the firm’s price target on TFI International to $175 from $167 and keeps an Outperformer rating on the shares. Following comments the firm has heard from various freight transportation companies over the past conference season, CIBC has adjusted its estimates for TFI International to “reflect a softer environment in its P&C and TL segments relative to (the firm’s) original expectations.” Despite that, TFI International remains one of CIBC’s top picks given its “company-specific growth levers,” the firm’s “positive outlook on the LTL segment,” and “the potential around splitting the company into two which would remove the Holdco discount.”