Saia price target raised to $465 from $455 at BofA

BofA raised the firm’s price target on Saia to $465 from $455 and keeps a Buy rating on the shares ahead of industry mid-quarter updates expected early next week. Given persistent tightness in LTL capacity, the firm expects leading carriers to benefit from structural pricing gains and thinks the carriers should show evidence of strong volume and pricing gains in the aftermath of the “seminal industry event” that is Yellow’s bankruptcy and auction process, the analyst tells investors.