Goldman Sachs Raises TFI International Price Target to $168

On June 23, Goldman Sachs analysts raised their price target on TFI International Inc. (NYSE:TFII) to $168 from $145, reiterating a Buy rating. The revision follows the firm's positive outlook for the less-than-truckload (LTL) freight sector, which it believes is heading for a stronger recovery.

Rating Change

• Previous Rating: Buy with a $145 price target.
• Current Rating: Buy with a $168 price target.
• Upside: The new target implies approximately 15.9% upside from the previous close.

Analyst Rationale

Goldman Sachs analysts see a stronger-than-expected recovery in the LTL freight sector, which will boost TFI International's revenue and earnings. The company also benefits from a strong market position in Canada and the U.S. and attractive dividend yields.

Context

TFI International is among the top 10 Canadian dividend stocks to buy for the next 5 years, according to a recent report. The stock has risen about 12% year-to-date as of the report date.

What to Make of It

The price target increase reflects analyst confidence in the company's future performance, but investors should consider risks related to the freight sector and economic volatility.