CIBC analyst Kevin Chiang raised the firm’s price target on TFI International (TFII) to $176 from $166 and keeps an Outperformer rating on the shares. The firm is more optimistic heading into 2025 on industrial and transportation equities. It sees an improving backdrop for the freight sector, with 2025 being a transition year. CIBC anticipates that strong underlying fundamentals will benefit the North American solid waste sector and expects outsized margin expansion in 2025. The analyst also expects improved supply/demand dynamics in the Canadian aviation sector next year, and that the aerospace names should continue to benefit from a healthy demand outlook.
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