TFI International Inc (NYSE:TFII) reported upbeat earnings for the first quarter on Monday.

The company posted quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 61 cents per share. The company reported quarterly sales of $1.949 billion which beat the analyst consensus estimate of $1.897 billion.

TFI International said it sees second-quarter adjusted EPS of $1.50-$1.60, versus market estimates of $1.30.

“We easily exceeded our first quarter earnings outlook on stronger revenue and higher profitability for both Truckload and Logistics despite adverse weather early in the quarter, thanks to the hard work of our talented team and benefitting from our strategic investments in recent years,” said Alain Bédard, Chairman, President and Chief Executive Officer.

TFI International shares rose 6.1% to trade at $146.83 on Tuesday.

These analysts made changes to their price targets on TFI International following earnings announcement.

  • B of A Securities analyst Ken Hoexter upgraded TFI International from Neutral to Buy and raised the price target from $122 to $161.
  • Stifel analyst J. Bruce Chan maintained the stock with a Hold and raised the price target from $117 to $136.
  • Morgan Stanley analyst Ravi Shanker maintained TFI International with an Overweight rating and raised the price target from $160 to $175.
  • RBC Capital analyst Walter Spracklin maintained the stock with an Outperform rating and raised the price target from $137 to $158.

Considering buying TFII stock? Here’s what analysts think:

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