Saia Inc. (SAIA) PT Lowered to $400 at BofA Securities

BofA Securities analyst Ken Hoexter lowered the price target on Saia Inc. (NASDAQ: SAIA) to $400.00 (from $450.00) while maintaining a Buy rating.

The analyst comments "Saia provided a mid-3Q update that was slightly above our 3Q26-to-date target, as August Tons/day were up 8.7% year-year, above our +7.0% target, accelerating from +7.8% in July. August Shipments/day were up 1.1% year-year, below our +2.0% target, yet up slightly from +0.8% in July. August Weight/Shipment was up 7.5% year-year, accelerating from +7.0% in July (and above our 5.0% target). We believe stronger weight/shipment partially reflects easier comps (from the lapping of So Cal volume declines in 2025), and SAIA’s revenue quality focus. SAIA’s August tonnage growth highlights its continued share gains vs public LTL peers (vs ODFL’s -0.9%, and our +3.5%/+7.3% estimates for XPO/ARCB), suggesting pricing impacts from its 7.1% July general rate increase and 10.7% growth in 2Q26 contract rate renewals has not inhibited its ability to win business. We continue to see ample opportunity for Saia to narrow its base yield discount to top peers as it grows into its expanded national network with a focus on service improvement and network density."

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