YELL - Bankrupt Yellow Corp's Freight Flowing In For Saia Analyst Sees Market Share Gains | Benzinga
Benchmark analyst Christopher Kuhn reiterated the Buy rating on Saia, Inc (NASDAQ: SAIA), raising the price target to $475 from $450.
The analyst raised the price target and earnings estimates, given Saia's third-quarter operating data are higher than expectations.
Operating data for 3Q showed accelerating less-than-truckload (LTL) shipments per workday, which were offset by lower weight, resulting in tonnage volume growth that was positive for the first time in 10 months and is outpacing peers, the analyst writes.
Saia reported LTL tonnage per workday of +3.4% in July and +6.8% in August, which has once ...