Saia price target lowered to $480 from $575 at Benchmark

Benchmark lowered the firm’s price target on Saia to $480 from $575 and keeps a Buy rating on the shares. The firm notes it has lowered its estimates and price target for the second consecutive quarter after Saia’s Q2 report on Friday. Given the Q2 results and Q3 guidance, the previous goal of a 100-150 basis points operating ratio improvement for FY24 “now seems uncertain,” though the firm still view Saia as “one of the best long-term stories in the transport sector,” the analyst tells investors.