Saia Inc. (SAIA) PT Raised to $291 at Stifel

Stifel analyst J. Bruce Chan raised the price target on Saia Inc. (NASDAQ: SAIA) to $291.00 (from $217.00) while maintaining a Hold rating.

The analyst commented, "Things are peachy in Johns Creek, GA: Saia delivered a stellar 3Q21, in our view, with adjusted EPS of $2.86—a full 22% and 28% above the Street consensus and our estimate, respectively. Volumes beat expectations, but we think the real story continues to be yields, driven not just by pricing momentum, but also concerted mix optimization to maximize utilization and efficiency in the network. Like Old Dominion, its brother from another southern mother, Saia is expanding its network and positioning for market share growth. And despite the incremental costs associated with expansion and meaningful headcount additions through the quarter, Saia mounted an all-time record adjusted operating ratio of 83.5% (Exhibit 1). Looking ahead, we believe mix optimization efforts are just beginning, and as long as the current market sticks around, there's still good runway ahead for improvement. We missed the ride, so we'll wait patiently on the sidelines for now."

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