Saia price target raised to $501 from $484 at BofA

BofA analyst Ken Hoexter raised the firm’s price target on Saia to $501 from $484 and keeps a Buy rating on the shares after the company provided an interim Q2 update. The firm said that the company’s April and May volumes were “well ahead” of BofA’s targets, and as a result the firm increased its Q2 shipments per day target to up 17.5% from 12%. BofA believes the fundamental story remains intact and that the valuation reset continues to provide a buying opportunity.