Evercore ISI analyst Jonathan Chappell lowered the firm’s price target on Saia (SAIA) to $319 from $328 and keeps an Outperform rating on the shares. The company’s Q3 results were a pleasant surprise, with adjusted EPS surpassing expectations due to stronger revenue and improved cost efficiency, the analyst tells investors in a research note. The firm added that the outlook is clouded by weaker October volume trends, potentially leading to a higher-than-usual operating revenue deterioration in Q4.
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