Saia upgraded to Buy from Hold at Stifel

Stifel upgraded Saia to Buy from Hold with a price target of $425, up from $412, post the Q3 report. The firm anticipated a “healthy” volume and yield progression, in light of Yellow Freight business flowing into the market post bankruptcy, and expected more margin pressure from elevated labor costs and lower labor productivity. It appears that Saia was able to navigate those issues effectively, the analyst tells investors in a research note. Stifel believes “there’s opportunity for more,” with gradual margin improvement as labor proficiency improves, as density builds, and as core pricing continues to expand.