JPMorgan analyst Brian Ossenbeck raised the firm’s price target on Saia (SAIA) to $566 from $499 and keeps an Overweight rating on the shares. The firm says that on the back of the election results and the view that the freight recession is coming to a close, less-than-truckload stocks “have rapidly re-rated once again.” Sentiment on the sub-sector remains positive and JPMorgan views less-than-truckload as the most favored group in transports with positioning continuing to shift away from U.S. rails, the analyst tells investors in a research note. It adjusted models to better reflect the operating performance in November.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SAIA:
- Saia price target lowered to $644 from $651 at Citi
- Saia price target lowered to $612 from $616 at BofA
- Saia reports November LTL shipments per workday up 2.3%
- Saia price target raised to $620 from $515 at Barclays
- Saia price target raised to $651 from $534 at Citi
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
