TFI International price target lowered to $127 from $156 at RBC Capital

RBC Capital lowered the firm’s price target on TFI International (TFII) to $127 from $156 and keeps an Outperform rating on the shares after its Q4 earnings miss. The quarter was expected to be tough, though the magnitude of the miss was meaningful, resulting in the sell-off in the shares, the analyst tells investors in a research note. RBC notes however that the wildcard catalysts are “density-building tuck-in M&A as well as a larger M&A deal that would facilitate a spin”, and the firm sees TFI as an “opportunity for patient investors”.