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Update: BofA Securities Upgrades TFI International to Buy From Neutral, Lifts Price Target to $161 From $122

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(Updated to include BofA's commentary)

BofA Securities upgraded TFI International (TFII) to buy from neutral following the company's reported Q1 earnings beat, led by Truckload and Logistics.

There is favorable exposure to supply side and industrial demand catalysts, progress on productivity/service initiatives, and an attractive valuation for the company, analyst Ken Hoexter wrote in a Tuesday note.

TFI International has an average rating of overweight and mean price target of $145.49, according to analysts polled by FactSet.

Price: $146.68, Change: $+8.35, Percent Change: +6.03%

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