CIBC Raises Price Target#
CIBC has increased its price target for TFI International stock (NYSE:TFII) from $134 to $162, while maintaining an Outperformer rating. This change comes after the company reported strong first-quarter earnings that exceeded expectations.
Strong Earnings Performance#
In the first quarter, TFI International reported adjusted earnings per share (EPS) of $0.69, surpassing CIBC’s estimate of $0.60 and the broader consensus expectation of $0.61. The stock has seen a remarkable increase of 76% over the past year, currently trading at $147.59, with a market capitalization of $12.12 billion.
Positive Guidance for Second Quarter#
Looking ahead, TFI International provided guidance for the second quarter, projecting adjusted EPS between $1.50 and $1.60. This forecast is significantly higher than CIBC’s previous estimate of $1.32 and the consensus of $1.31. Analyst Kevin Chiang highlighted the strong momentum the company experienced as it exited the first quarter.
Analyst Revisions Reflect Optimism#
Following TFI International's strong performance, several analysts have adjusted their evaluations. RBC Capital raised its price target to $158, citing the company's consistent outperformance. Stifel increased its target to $136 while maintaining a Hold rating. Morgan Stanley set its target at $175, reflecting a positive outlook, and BofA Securities upgraded TFI International to a Buy rating, praising its logistics strength and favorable market conditions. TD Cowen also raised its target to $153, noting improved demand trends and strengthening U.S. industrial activity. These revisions indicate a generally positive sentiment among analysts regarding TFI International's recent achievements and future potential.