Following the company's fourth quarter and fiscal 2022 results, Haywood analyst Gianluca Tucci has raised his price target on Titanium Transportation Group (Titanium Transportation Group Stock Quote, Chart, News, Analysts, Financials TSX:TTNM). On March 13, TTNM reported its fiscal 2022 results. In the fourth quarter, the company posted Adjusted EBITDA of $14.9-million on revenue of $110.8-million, a topline that was down 0.4 per cent from the same period a year prior. "Fourth quarter results topped off a third consecutive year of growth and profitability highlighted by a record top line revenue of $496 million, reflecting effective execution of our operational strategy and continuous deployment of new technology across our logistics and trucking segments," said Ted Daniel, CEO, Titanium Transportation Group. "This enabled us to drive consolidated EBITDA margin expansion, exceeding expectations." "We successfully offset persistent inflationary cost and pricing pressures that emerged in Q3 2022 and continued into the balance of Q4 by focusing on growth in our US and Canadian logistics capacity, including new offices in Atlanta, GA, Fayetteville, AR and Montreal, QC while keeping a laser focus on trucking optimization and efficiency," he said. Tucci said the results were better than he expected. "titanium reported a healthy Q4/22 which showed continued performance against our estimates," he wrote. "We believe the company is well positioned to weather a cyclical normalization in transportation via its asset-light focus, robust balance sheet and opportunistic M$A strategy." In a research update to clients on March 14, Tucci maintained his "buy" rating on TTNM, but raised his one year price target on the stock from $4.75 to $5.00, implying a return of 96 pre cent at the time of publication. Tucci believes the company will post EBITDA of $52-million on revenue of $500.2-million in fiscal 2023.