Expect a ‘bumpy’ 2016 for TransForce and rest of trucking industry: RBC – FINANCIAL NEWS-ecozik.com
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Expect a ‘bumpy’ 2016 for TransForce and rest of trucking industry: RBC

RBC analyst Walter Spracklin downgraded Montreal-based TransForce Inc. to sector perform from outperform and lowered his price target to $22 from $31, but said the company remains his top choice in the trucking space.

The Canadian trucking industry is facing a “bumpy” 2016 like a weak economy and an excessive amount of capacity weigh on freight rates, according to a brand new analysis from RBC Capital Markets.

In response, the financial institution recommends purchasing companies with “low operating costs, strong balance sheets and prudent management teams,” that are best positioned to match ability to demand and make opportunistic acquisitions.

RBC analyst Walter Spracklin downgraded Montreal-based TransForce Inc. to sector perform from outperform and lowered his price target to $22 from $31, but said the organization remains his best choice within the trucking space.

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