Saia price target lowered to $415 from $485 at Wells Fargo

Wells Fargo lowered the firm’s price target on Saia to $415 from $485 and keeps an Overweight rating on the shares. Volumes and costs increased significantly, the firm says, noting that now that volume growth is moderating, costs should moderate. Additionally, growth inefficiencies in Q3 should recede, Wells adds. The firm continues to believe market trends will drive significant earnings power.