TFI International: Stock Analysis & Forecast after Downgrade
On July 17, 2024, Desjardins Securities (Analyst Rank #101) downgraded TFI International to a “Hold” rating from a “Buy”, setting a target price of CAD 219, up from CAD 207 per share.
Analyst Forecast and Ratings
TFI International Inc. has been a popular stock among analysts, with a consensus target price of CAD 198.25 over the next 12 months from 11 analysts. Despite Desjardins’ recent downgrade, the average analyst rating remains a “Strong Buy.” This suggests that most analysts are optimistic about the company’s prospects, expecting robust performance and growth.
Stock Target Advisor’s Analysis
Stock Target Advisor has a slightly bullish view on TFI International Inc., based on a mix of 9 positive signals and 6 negative signals. This nuanced outlook indicates that while there are several encouraging indicators for the stock, there are also some factors that warrant caution.
Recent Stock Performance
As of the last closing, TFI International Inc.’s stock price was CAD 216.68. The stock has demonstrated impressive performance, with a notable increase of +9.64% over the past week, +14.71% over the past month, and a remarkable +49.76% over the past year. These gains highlight the company’s strong market presence and investor confidence.
Analysis of Desjardins’ Downgrade
Desjardins’ downgrade to a “Hold” rating and a target price of CAD 219 reflects a more conservative outlook compared to other analysts. The downgrade suggests that Desjardins believes the stock’s current valuation may be approaching its peak, with limited upside potential in the near term.
Outlook
While Desjardins Securities has taken a cautious approach by downgrading TFI International Inc. to a “Hold” with a target price of CAD 219, the overall sentiment among analysts remains positive. The consensus target price of CAD 198.25 and the “Strong Buy” rating indicate widespread optimism about the company’s future performance. Investors should weigh these diverse perspectives and consider the stock’s recent robust performance, along with the potential risks and rewards, when making investment decisions.
