Multiple Upgrades Stephens’ Jack Atkins raised his TFI International Inc. target for US$135 from US$120 with an “overweight” rating. Others making changes include: Scotia Capital’s Konark Gupta to $157 from $143 with a “sector outperform” rating, RBC’s Walter Spracklin to $112 from $100 with an “outperform” rating, Desjardins Securities’ Benoit Poirier to $174 from $170 with a “buy” rating, TD Securities’ Tim James to $160 from $125 with a “buy” rating, BMO’s Fadi Chamoun to US$105 from US$95 with a “market perform” rating and CIBC’s Kevin Chiang to US$127 from US$110 with an “outperformer” rating. The average is $120.86.
“We are very pleased with TFII’s results, which once again show that TFII is ideally positioned to unlock shareholder value,” said Mr. Poirier. “If a slowdown did occur, TFII’s robust diversified business segments across two countries should provide an extra layer of protection. The stock is a compelling proposition at current levels, with investors not paying for this potential upside, in our view. TFII remains our preferred transportation stock for 2022.”