Saia price target raised to $550 from $500 at Jefferies

Jefferies analyst Stephanie Moore raised the firm’s price target on Saia (SAIA) to $550 from $500 and keeps a Buy rating on the shares. Less-than-truckload equities have re-rated sharply since the fall, but despite the rally the stocks are not yet pricing a full freight recovery, says the analyst, who sees the next leg higher hinged on earnings growth, not higher multiples.