The Globe and Mail reports in its Thursday, Aug. 3, edition that National Bank Financial analyst Cameron Doerksen has downgraded TFI International to "sector perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen gave his share target an $18 (U.S.) boost to $183 (U.S.). Analysts on average target the shares at $140.21 (U.S.). Mr. Doerksen issued his rating cut after TFI posted weaker-than-anticipated second quarter financial results and a reduction to its full-year guidance. He says he sees potential gains from the bankruptcy of U.S. giant Yellow Corp. already baked into TFI's share price. Mr. Doerksen says in a note: "To be clear, we remain positive on the long-term prospects for TFI International as we continue to see earnings growth tailwinds for [it] in 2024 and beyond driven by margin improvement in the U.S. LTL segment, and we also believe 2024 will offer a better freight backdrop. Furthermore, we see upside for TFI from additional M&A, both the tuck-in variety as well as potentially a larger scale acquisition. Finally, we do expect TFI will see incremental volume tailwinds stemming from the market exit of U.S. LTL carrier Yellow Corp."