Saia price target lowered to $227 from $230 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker lowered the firm’s price target on Saia to $227 from $230 and keeps an Underweight rating on the shares. The firm says it expects "another quarter of tough results" across the North American freight transportation group after a "promising start to 2023 faded toward the end" of Q1. How much of the March softness is due to catch up from weather disruptions and shippers holding off on restocking decisions "remains to be seen," the firm added.