UPDATE: Wunderlich Securities Upgrades Saia as Efficiency Paves Road to Share Gains
In a report published Wednesday, Wunderlich Securities analyst Nicholas J. Bender upgraded the rating on Saia (NASDAQ: SAIA) from Hold to Buy, and raised the price target from $32.00 to $40.00.
In the report, Wunderlich Securities noted, “We are transferring coverage of Saia (SAIA) with a Buy rating and $40 price target. By focusing on internal processes, Saia has transformed itself from a middling LTL player to one of the best earnings growth stories in transportation. EPS has increased from $0.08 in FY10 to $1.69 in FY13. With a leaner cost structure and improved network productivity, we believe Saia is poised to begin taking share from struggling LTL peers. Management believes tonnage growth of roughly 5% is possible in FY14, and, if this is realized, there's material upside to our FY14 estimates. Moreover, Saia's clear path to geographic expansion augurs well for intermediate-term results.”
Saia closed on Tuesday at $32.51.
Latest Ratings for SAIA
|Mar 2015||Stifel Nicolaus||Upgrades||Hold||Buy|
|Jan 2015||BB&T Capital||Downgrades||Buy||Hold|
|Jan 2015||Wolfe Research||Downgrades||Outperform||Peer Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.