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BofA Bumps Price Target For Saia, ArcBest, Old Dominion

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·1 min read
In this article:
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  • BofA analyst Ken Hoexter raised the price target for Rail & Road companies Saia, ArcBest, and Old Dominion.

  • Hoexter increased estimates on a carry forward of pricing strength into early 2022 due to higher rates. He mentions that in less-than-truckload mid-quarter updates, industry pricing trends were up mid-teens, ahead of the prior targets, with shipment growth remaining up slightly.

  • Saia Inc's (NASDAQ: SAIA) price target was raised to 2 (an upside of 2.65%) from $236 and reiterated a Neutral rating on the shares.

  • ArcBest Corp's (NASDAQ: ARCB) price target was raised to 3 (implying an upside of 20.7%) from $86 and reiterated a Buy rating on the shares. The analyst says ArcBestt benefits from rate strength.

  • Old Dominion Freight Line Inc (NASDAQ: ODFL) price target was raised to 0 (implying a downside of 2.5%) from $250 and maintained an Underperform rating on the shares due to its valuation.

  • Price Action: SAIA shares are trading higher by 0.39% at $264.65, ARCB lower by 0.29% at $85.44, and ODFL lower by 0.14% at $307.24 on the last check Tuesday.

Latest Ratings for SAIA

Oct 2021

B of A Securities

Maintains

Neutral

Oct 2021

Wells Fargo

Maintains

Overweight

Oct 2021

Morgan Stanley

Maintains

Underweight

View More Analyst Ratings for SAIA
View the Latest Analyst Ratings

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