RBC Changes Estimates for Canadian Trucking and Diversified Industrials
RBC Capital Markets outlined Monday estimate changes for Canadian trucking and diversified industrials equities ahead of the first-quarter earnings reporting season.RBC lowered Cargojet's (CJT.TO) price target to $140 from $143 while maintaining its outperform rating. The EBITDA estimate for the company was also decreased to $80 million from $83 million, driven by indication Canadian consumer spending on discretionary goods is pulling back.The EBITDA estimate for Mullen Group (MTL.TO) remained unchanged at $79 million while its price target increased to $19 from $17 with an outperform rating. RBC expects recent PMI readings and potential infrastructure investment to favorably affect demand and sentiment in the shares.RBC cut Stella-Jones (SJ.TO)'s price target to $93 from $95 and maintained its sector perform rating while its earnings per share estimate was reduced to $1.27 from $1.47. While RBC sees utility pole momentum continuing in 2026, RBC sees the Tie outlook as uncertain and flags risk given aggressive behavior from Stella's main competitor.Meanwhile, the EPS estimate for TFI International (TFII.TO) was unchanged at $0.65 while its price target remained at US$137 with an outperform rating. RBC said it is bullish on recent pricing trends and does not expect management to provide full year 2026 guidance given the uncertain backdrop.Westshore Terminals Investment (WTE.TO)'s price target increased to $39 from $34 while its outperform was maintained. The EBITDA estimate was also unchanged at $29 million.Price: $84.94, Change: $-0.95, Percent Change: -1.11%