The Globe and Mail reports in its Friday edition that RBC Dominion Securities analyst Walter Spracklin has reaffirmed his "outperform" recommendation for TFI International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Spracklin, however, knocked his share target back by $6 to $123 (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $134.39. Mr. Spracklin says TFI's recent guidance "reflects the underlying trend that we are indeed in (at least) a freight recession." He says in a note: "Management lowered its 2023 guidance from a prior view that contemplated H1 to be weak and H2 better -- to one that has now shifted (based on customer conversations) to suggest weakness that picked up in Q1 is expected to amplify and continue through 2023. As a result, management has reduced its EPS guidance to $7 to $7.25 (from $7.50 to $7.60), below (prior) consensus of $7.44. This new guidance includes M&A deals done to date, but not the full $300-million it expects to be deployed in either M&A or buyback." The Globe reported on Feb. 8 that Mr. Spracklin rated TFI "outperform." The shares could then be had for $124.55.