12:44 PM EDT, 06/05/2024 (MT Newswires) -- Nasdaq-listed trucking company Saia provided a Q2 QTD operating update, which RBC views as a positive read-through for TFI International ( TFII ). SAIA pointed to solid demand QTD with LTL Shipments per workday and LTL Tonnage per workday came in above consensus expectations (the decline in LTL Weight per shipment was in line with consensus).

"While the update reflects company specific factors, we nevertheless view it as pointing to a solid demand environment, which we believe positions TFII well to drive further density at TForce Freight (and subsequent margin improvement)," writes RBC analyst Walter Spracklin.

TFI International ( TFII ) is rated Outperform, with a US$162 target.

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