Saia price target raised to $566 from $499 at JPMorgan

JPMorgan analyst Brian Ossenbeck raised the firm’s price target on Saia (SAIA) to $566 from $499 and keeps an Overweight rating on the shares. The firm says that on the back of the election results and the view that the freight recession is coming to a close, less-than-truckload stocks “have rapidly re-rated once again.” Sentiment on the sub-sector remains positive and JPMorgan views less-than-truckload as the most favored group in transports with positioning continuing to shift away from U.S. rails, the analyst tells investors in a research note. It adjusted models to better reflect the operating performance in November.