The Globe and Mail reports in its Thursday, Oct. 5, edition that BMO Nesbitt Burns analyst Fadi Chamoun has reaffirmed his "market perform" recommendation for TFI International. The Globe's David Leeder writes that Mr. Chamoun cut his share target back by $3 to $127 (all figures U.S.). Analysts on average target the shares at $152.08. The Globe says Mr. Chamoun lowered his expectations for TFI International ahead of its third quarter earnings release. Mr. Chamoun says in a note: "While the YELL bankruptcy provided an initial boost, the broader demand environment continues to be muted and visibility into an inflection higher—which is an important condition for pricing—is limited. Despite this, cost initiatives, including new equipment deliveries, should position the U.S. LTL [less than truckload] segment for operating ratio improvement in 2024 even in a flat demand environment. The medium-to-longer term opportunity continues to be (i) service improvement; (2) increased density; and (3) cost reduction. ... TFII has several levers to mitigate the slowing demand environment including self-help cost improvement opportunities. ... At current valuation levels, however, we believe the risk/reward is balanced."