Stifel analyst J. Bruce Chan raised the price target on TFI International (NYSE: TFII) to $136.00 (from $117.00) while maintaining a Hold rating.

The analyst commented, "TFI reported adjusted 1Q26 EPS of $0.69 — above the $0.50-$0.60 guidance range, $0.61 consensus, and our $0.62 estimate. After a solid performance last quarter, we'd anticipated that guidance was conservative (see here), implying a 50% sequential stepdown in EPS, but management positioned cautiously due to a transitioning market and weather disruption early in the year. Truckload was a standout with a 92.7% OR vs. our 95.2%. Logistics fared better, too, with a 130bp margin beat. The LTL segment saw consolidation across U.S., Canadian, and P&C reporting divisions, but the newly-consolidated division underperformed our estimates, with a blended Operating Ratio (OR) 70bp shy of our 94.6% estimate. U.S. LTL, in particular, still seems challenged for density, with an estimated OR >98% vs. our pre-print estimate of 97.7%. We anticipate tightening supply and demand as early cycle signals manifest, but U.S. LTL is still where the leverage is, in our view."