Saia price target lowered to $484 from $645 at BofA

BofA lowered the firm’s price target on Saia to $484 from $645 and keeps a Buy rating on the shares after the company posted Q1 EPS below the firm’s and Street’s estimates and shares fell 20% on increased concerns about pricing and volumes. The firm lowered its 2024 and 2025 EPS estimates by 8% and 10%, respectively, due to a 200 basis point reduction in its shipments and yield growth target in 2024.