Saia price target lowered to $298 from $306 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on Saia (SAIA) to $298 from $306 and keeps a Hold rating on the shares. A mixed, but generally weak macro backdrop for the Less-than-Truckload group persists into the Q3 reporting season, says the analyst, who adds that the firm’s channel checks and intra-quarter data suggest operations remain “soft but stable.”