TFI International Inc T.TFII

Credit Suisse Raise Target

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With a quarterly earnings beat “driven by impressive cost control in spite of volume declines,” Credit Suisse’s Ariel Rosa raised his TFI International Inc. (TFII-N, TFII-T) target to US$119 from US$116 with an “outperform” rating. The average is US$121.18.

“We continue to see risks related to weakness in the macro environment, M&A related execution risk, union challenges in its U.S. LTL business, and competition eroding pricing power. The increases to our EPS targets reflect our rising confidence that TFI can navigate through these challenges while controlling costs and maintaining pricing discipline,” he said.