Saia price target lowered to $541 from $618 at UBS

UBS lowered the firm’s price target on Saia to $541 from $618 and keeps a Buy rating on the shares. The stock is down 21% after a Q1 miss, a function of surprise on the modest miss but even more a response to the weaker forward view on freight activity, the analyst tells investors in a research note. Saia indicated they had expected a stronger pick up in March and that April has continued to modestly underperform seasonality, the firm says.