Saia price target raised to $515 from $450 at BMO Capital

BMO Capital analyst Fadi Chamoun raised the firm’s price target on Saia to $515 from $450 and keeps a Market Perform rating on the shares after its Q4 earnings beat. The company is showing strong pricing momentum entering FY24 despite the “muted” macro environment, the analyst tells investors in a research note. As the network continues to expand, BMO sees Saia benefiting from further price improvement, better freight selection opportunities, and incremental linehaul optimization, the firm adds.