Saia price target lowered to $490 from $575 at BMO Capital

BMO Capital lowered the firm’s price target on Saia to $490 from $575 and keeps a Market Perform rating on the shares after its Q1 results. The company missed consensus earnings estimates by 2%, but its revenue still grew, which marked a “good performance” amid a muted freight demand environment, the analyst tells investors in a research note. The stock’s pullback is a reflection of elevated valuation in the context of a potentially extended cyclical trough, but while volatility could persist in the near term given limited visibility toward an inflection, the pullback is a potential entry point for long-term investors, BMO added.