UPDATE: UBS Upgrades Saia Inc. (SAIA) to Buy

UBS analyst Thomas Wadewitz upgraded Saia Inc. (NASDAQ: SAIA) from Neutral to Buy with a price target of $240.00 (from $213.00).

The analyst comments "We believe SAIA has an attractive algorithm for multi-year EPS growth based on expansion of its terminal network, focus on service performance, and consistent pricing which supports margin expansion. We expect SAIA's medium term growth outlook to remain positive despite the signs of a likely downturn in freight activity over the next several quarters. In our view, SAIA stock already reflects the expectation of a significant freight downturn considering SAIA stock is off 45% in 2022 (vs the S&P 500 -18%). We believe the current valuation (14x on our 2022 EPS) is attractive and we have upgraded SAIA from Neutral to Buy."

For an analyst ratings summary and ratings history on Saia Inc. click here. For more ratings news on Saia Inc. click here.

Shares of Saia Inc. closed at $187.55 yesterday.

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