Fly News Breaks for February 5, 2019
Feb 5, 2019 | 07:13 EDT
SunTrust analyst Stephanie Benjamin raised her price target on Saia to $77 and kept her Buy rating after its Q4 earnings beat and higher revenue, saying the company offers greater scale from its "ongoing Northeast terminal expansion strategy". The analyst notes that the earnings beat was driven by the lower than expected operating ratio and tax rate, while the top line was supported by higher revenue per shipment growth of 12%. The analyst further cites Saia's "significant upside potential" relative to estimates and believes that the company is "well positioned' for above-peer revenue growth and margin gains this year.
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