Stephens has reduced its price objective for TFI International (NYSE:TFII) to $105 from $115 and left its rating at Equal Weight, aligning the new target with InvestingPro’s Fair Value view that the shares are trading above intrinsic value at $116.27. The stock has climbed 25.26% over the past six months.
TFI reported adjusted earnings per share of $1.09 for fourth-quarter 2025, surpassing Stephens’ internal estimate of $0.86 and the market consensus of $0.85. The logistics business led the outperformance, with stronger-than-expected class 8 shipments cited as a key contributor.
Despite the quarterly beat, company metrics reveal some cautionary signals. TFI is profitable with a price-to-earnings ratio of 32.46, yet InvestingPro data shows that six analysts have recently reduced their earnings forecasts for upcoming periods.
Less-than-truckload - LTL - yields were weaker than anticipated. Management attributed the shortfall in part to a decision to postpone a general rate increase because service levels did not justify raising prices at that time. The company said it will put the general rate increase into effect in March. Separately, industrial demand remains generally soft, with the exception of volumes tied to data centers and energy projects.
Operationally, TFI’s LTL volumes showed improvement in February, although Canadian volumes continue to lag. Management noted that trade uncertainty has suppressed demand in Canada.
Looking forward, TFI provided first-quarter guidance of $0.50 to $0.60 in earnings per share, which is below Street expectations of $0.80 and is accompanied by margin expectations that were worse than anticipated.
Other recent analyst moves and corporate developments were also highlighted. TD Cowen raised its price target to $130 while noting that first-quarter guidance disappointed. BofA Securities upgraded the stock to Neutral from Underperform, citing an improved view on cash generation and setting a price target of $123. Stifel increased its target to $113, pointing to TFI’s track record of acquisitions in the transportation and logistics space.
On governance, TFI announced that André Bérard will step down as Lead Director after 23 years, with Diane Giard named to succeed him.
The article also records that BofA Securities raised a separate price target to $93 in light of TFI’s growing involvement in transportation tied to data centers and the electric grid. These analyst updates and leadership changes underscore shifts in how investors and advisers are assessing the company’s strategy and market positioning.
This reporting presents the company’s recent financials, guidance and analyst reactions without drawing conclusions beyond the information disclosed by the firm and advisory houses.