TFI International price target lowered to $98 from $127 at RBC Capital

RBC Capital analyst Walter Spracklin lowered the firm’s price target on TFI International (TFII) to $98 from $127 and keeps an Outperform rating on the shares. The firm noted that Canadian PMI data was weak in Q1, pointing to potential industrial weakness during the remainder of the year, which RBC views as a negative for the transports and diversified industrials, the analyst tells investors in a research note. RBC continues to expect the current backdrop to negatively affect results.