Saia price target raised to $500 from $490 at BMO Capital

BMO Capital raised the firm’s price target on Saia to $500 from $490 and keeps a Market Perform rating on the shares after hosting its management for a series of investor meetings. The macro backdrop remains muted, but Saia is on track to deliver 13% revenue and 17% EPS growth in 2024 as it continues its “idiosyncratic network expansion”, the analyst tells investors in a research note. The discussions have also reinforced the firm’s “constructive view” on the company’s significant medium-to-long-term opportunity, the firm added.