Saia To Gain From Issues At Yellow Corp Amid Solid Profitable Mix, New Terminals: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Christopher Kuhn reiterated a Buy rating on Saia, Inc (NASDAQ:SAIA), raising the price target to $450 from $330. The analyst sees an opportunity for Saia to improve productivity in 2023 and increase yield as they benefit from issues at Yellow Corporation (NASDAQ:YELL). Saia recently reported Q2 results with revenue of $694.6 million, a 6.8% decrease Y/Y, but exceeded estimates. Saia added five new terminals this year and is on track to open 3 or 4 more.
July 31, 2023 | 7:20 pm
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NEGATIVE IMPACT
Issues at Yellow Corporation (NASDAQ:YELL) are expected to benefit Saia, Inc. The nature of these issues is not specified, but they could potentially impact Yellow Corporation's performance.
The issues at Yellow Corporation are expected to benefit its competitor, Saia, Inc. This suggests that Yellow Corporation may be facing challenges that could negatively impact its performance and stock price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Saia, Inc's price target has been raised to $450 from $330 by Benchmark analyst Christopher Kuhn. The company is expected to improve productivity and increase yield in 2023, benefiting from issues at Yellow Corporation. Saia's Q2 results exceeded estimates despite a 6.8% Y/Y decrease in revenue.
The positive rating and increased price target by the analyst indicates a bullish outlook for Saia, Inc. The company's ability to exceed estimates despite a decrease in revenue shows strong financial management. The ongoing issues at Yellow Corporation present an opportunity for Saia to capture more market share, which could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100