Saia price target raised to $645 from $600 at BofA

BofA analyst Ken Hoexter raised the firm’s price target on Saia to $645 from $600 and keeps a Buy rating on the shares after the company provided an interim Q1 update with January and February to-date volumes ahead of the firm’s estimates. The firm is applying a higher multiple to its 2024 revised EPS estimate as it sees Saia’s accelerating pricing offsetting near-term costs to grow network capacity.