TFI International

TFII · TORONTO

$112.50−$2.50 (−2.17%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $115.00

TFII analyst rating

BuyConsensus of 12 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy9
Hold3
Underperform0
Sell0

12-month price target · 13 analysts

Average $150.03 (+33.4% upside)

Low: $113.68
Now: $112.50
High: $183.26

Upgrades and downgrades

The latest rating actions, newest first

TFII analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stifel	Oct 8, 2026	Maintains	Hold	$160.00 → $132.00	49%
Citigroup	Oct 7, 2026	Maintains	Buy	$180.00 → $157.00	66%
CIBC	Oct 5, 2026	Maintains	Outperformer	$175.00 → $158.00	45%
JP Morgan	Oct 5, 2026	Maintains	Overweight	$175.00 → $168.00	54%
Susquehanna	Oct 2, 2026	Maintains	Positive	$185.00 → $164.00	53%
RBC Capital	Sep 30, 2026	Maintains	Outperform	$171.00 → $144.00	60%
Stephens & Co.	Jul 29, 2026	Maintains	Overweight	$195.00 → $205.00	53%
UBS	Jul 28, 2026	Maintains	Neutral	$154.00 → $159.00	62%
B of A Securities	Jul 28, 2026	Maintains	Buy	$178.00 → $187.00	55%
TD Cowen	Jul 28, 2026	Maintains	Buy	$154.00 → $158.00	46%

The case for and against

Updated Oct 15, 2026

Bull case

TFI International is viewed positively because it has delivered two consecutive quarters of results ahead of lowered expectations, including Q1/26 adjusted EPS of $0.69 versus $0.61 consensus and adjusted EBITDA of $241 million, while also issuing Q2/26 EPS guidance of $1.50 to $1.60 above the $1.31 street view. The outlook is supported by broad-based operating improvement across Truckload, LTL, and Logistics, with stronger productivity, improving service levels, and pricing inflection helped by capacity tightening and delayed rate actions, including expected consolidated OR improvement of 400-500 bps in Q2. Despite shares having run 40% from March lows, the stock still screens at a valuation discount to peers, around 20.2x 2027 P/E versus 31x for LTL peers and 24x for TL peers, leaving room for further rerating as execution continues.

Bear case

TFI International is facing a deteriorating fundamental backdrop as its key Less-Than-Truckload segment posted EBITDA of $79MM, down year over year on softer freight volumes, severe weather, and tariff-related demand uncertainty. Despite a 3% revenue decline improving from Q4’s 10% drop, LTL still carried a 95.3% operating ratio, while Logistics and Truckload strength only partly offset the miss and adj. EBITDA still fell 7% to $241M. Free cash flow declined 35% year over year, and with turnaround progress slowing in 2024 and U.S. truckload performance still under pressure, the business looks operationally fragile.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.