Saia remains top transport pick at Deutsche Bank

Deutsche Bank maintains Saia as the firm’s top pick in transports with a Buy rating and $600 price target. The company’s earnings power is “proving remarkably resilient,” with 2023 earnings expected to be down only 2% year-over-year, the best in the group, the analyst tells investors in a research note. The firm is projecting Saia to grow earnings by 60% in 2024 and 2025. This is the second best growth rate of the group, despite the company not benefiting from easier comparison like most others, says Deutsche Bank.