Susquehanna downgrades XPO, Saia on valuation after rally

Susquehanna downgraded both XPO (XPO) and Saia (SAIA) to Neutral from Positive with increased price targets of $210 and $425, respectively. Less-than-truckload shares have moved ahead of near-term fundamentals and already reflect a “meaningful cyclical recovery,” the analyst tells investors in a research note. Susquehanna cites valuation for the downgrades, preferring to wait for “more tactical entry points” into the stocks.