Barclays raised the firm’s price target on Saia to $480 from $450 and keeps an Equal Weight rating on the shares ahead of the Q4 report. The analyst says transportation equities should benefit as freight markets exit recession in early 2024. The firm expects rail and truck pricing gains to build throughout the year, leading to generally above-consensus earnings estimates across the group. Its relative preference remains in the rails as it senses investor sentiment remains subdued.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SAIA:
- Saia price target raised to $435 from $390 at Citi
- Saia price target raised to $500 from $420 at Susquehanna
- XPO, Inc upgraded to Overweight from Equal Weight at Wells Fargo
- Saia, Inc. Agrees to Acquire 17 Yellow Corporation Terminals in Chapter 11 Bankruptcy Sale
- Saia to acquire 17 Yellow Corp. terminals in Chapter 11 sale for $235.7M