BMOAs can be seen, he is now way below the Street average. And yet, most of his comments are positive (hence his Outperform rating) GLTA
BMO’s Fadi Chamoun cut his TFI International Inc. target to US$95 from US$115 with an “outperform” rating. The average is US$114.59.
“TFII stock valuation appears more attractive following a 26-per-cent decline year-to-date. The company also enjoys several self-help levers that should mitigate downside earnings risk from potentially slowing freight cycle, and it may re-engage more aggressively in M&A at these lower valuation levels. Historically M&A has been the largest creator of value for TFII shareholders. Our rating reflects our view that cyclical uncertainties are likely to persist in the near-term and potentially cause further volatility, but for longterm oriented investors these lower valuation levels should prove rewarding,” said Mr. Chamoun.