Saia upgraded to Buy at Stifel on ‘attractive’ valuation

Stifel upgraded Saia to Buy from Hold with a price target of $475, down from $526. The company reported “soft” Q1 results wtih a “modest” earnings miss on April 26th, and the stock has since continued to lose steam, the analyst tells investors in a research note. The firm adds however that while there is execution risk in Saia’s mid-term growth and network expansion plans, the company is a well-run carrier that stands to take more market share in a secular growth LTL industry with improving pricing power. Saia’s valuation has now reset to “attractive” levels and presents an “attractive” entry point for a high-growth, high-quality carrier at the bottom of the cycle, Stifel states.