Saia target raised, removed from ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI analyst Jonathan Chappell raised the firm’s price target on Saia to $298 from $248 and keeps an In Line rating on the shares, which he is also removing from the firm’s "Tactical Underperform" list following the company’s Q4 report. Tonnage and shipment headwinds were widely expected, but the rate of change in December "surprised to the downside," said the firm, which added that January has "started on a much stronger note." Saia "may not be the gold standard in the LTL industry yet, but silver status certainly lays out a path to further market share gains," as well as EPS growth once volume headwinds abate, the firm contends.