Bankrupt Yellow Corp's Freight Flowing In For Saia, Analyst Sees Market Share Gains
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Christopher Kuhn reiterated a Buy rating on Saia, Inc (NASDAQ:SAIA), raising the price target to $475 from $450. The analyst raised the price target and earnings estimates due to Saia's higher than expected 3Q operating data. Saia's increase in tons is attributed to Yellow Corporation's freight flowing into Saia's network. The analyst increased 3Q estimate to $3.42 from $3.25 and raised 2023 and 2024 EPS estimates.
September 27, 2023 | 7:16 pm
News sentiment analysis
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NEGATIVE IMPACT
Old Dominion Freight Line, Inc's tonnage has been outpaced by Saia, Inc, which could potentially impact the company's market position.
Saia, Inc's increase in tons, which is outpacing Old Dominion Freight Line, Inc, could potentially impact Old Dominion's market position and stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Saia, Inc's stock is expected to perform well due to higher than expected 3Q operating data and increased earnings estimates. The company's increase in tons is attributed to Yellow Corporation's freight flowing into its network.
The analyst's positive outlook on Saia, Inc is based on the company's higher than expected 3Q operating data and increased earnings estimates. This is likely to attract investors, driving up the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100