BMO Capital upgraded Saia (SAIA) to Outperform from Market Perform with an unchanged price target of $455. The shares are down 45% over the past year, including a 29% pullback year-to-date, amid rising macro uncertainty, driven by a shifting U.S. trade policy, the analyst tells investors in a research note. The firm considers the pullback to be a buying opportunity in a “quality franchise” within less-than-truckloads, what it views as an attractive transportation sub-sector. BMO says Saia’s valuation has “become reasonable” and that the company is “well positioned to defend earnings.”
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