Citi raised the firm’s price target on Saia (SAIA) to $534 from $518 and keeps a Buy rating on the shares post the Q3 report. Despite the earnings miss, Saia traded up over 10% on Friday, which partly reflects short covering, as it appears sentiment had shifted negative into the print, the analyst tells investors in a research note. The firm says that while there is execution risk from Saia’s “aggressive” recent terminal expansions, it continues to believe it has “compelling” pricing, margin and earnings growth potential.
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Read More on SAIA:
- Saia reports Q3 EPS $3.46 , consensus $3.53
- Is SAIA a Buy, Before Earnings?
- Saia downgraded to Hold from Buy at Stifel
- Saia named to ‘Franchise Picks’ list at Jefferies
- Saia price target raised to $500 from $480 at Jefferies
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