TFI International downgraded to Equal Weight from Overweight at Stephens

Stephens analyst Daniel Imbro downgraded TFI International to Equal Weight from Overweight with a price target of $149, down from $176. The firm is moving to the sidelines as it sees risk to guidance and believes service, while improving, is not positioned to handle a tightening market next year based on industry conversations. More broadly, the firm is lowering its estimates and price targets for most of the Less-Than-Truckload group as the industrial backdrop remains challenging and growth moderates due to difficult comparisons.