Analyst Jason Seidl of TD Cowen reiterated a Buy rating on TFI International, with a price target of $107.00.
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Jason Seidl has given his Buy rating due to a combination of factors, including TFI International’s strong performance in the second quarter, where it exceeded both his and the consensus estimates. This was largely driven by better-than-expected margins in the TForce segment. Despite a cautious outlook for the second half of the year, TFI International is expected to maintain its performance, supported by various strategic initiatives.
Moreover, the company continues to actively repurchase shares, demonstrating confidence in its financial health and future prospects. The implementation of new billing software and other technology initiatives at TForce are anticipated to yield further improvements. While the third-quarter guidance is slightly below expectations, the potential for continued operational momentum and strategic focus could lead to positive outcomes, justifying the Buy rating.
In another report released on July 14, RBC Capital also maintained a Buy rating on the stock with a $102.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TFII in relation to earlier this year.