Saia price target raised to $283 from $229 at Cowen

Cowen analyst Jason Seidl raised the firm’s price target on Saia to $283 from $229 and keeps a Market Perform rating on the shares. The analyst noted they came in below expectations for 4Q though tonnage trends fared better than its larger LTL peer due primarily to its industrial mix of business. Full year margin commentary was much better than we expected and if tonnage can rebound we see SAIA well positioned to perform well in a tough transport market.