Morgan Stanley has downgraded Saia Inc. (NASDAQ:SAIA) from Equalweight to Underweight, setting a price target of $250.00, significantly below its current trading price. The downgrade is primarily due to valuation concerns, as the stock has exceeded $400 per share despite earnings estimates being nearly halved over the past year. InvestingPro data also indicates Saia is trading above its calculated Fair Value, with a P/E ratio of 37.04.
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Morgan Stanley downgrades Saia stock rating to Underweight on valuation concerns
Morgan Stanley has downgraded Saia Inc. (NASDAQ:SAIA) from Equalweight to Underweight, setting a price target of $250.00, significantly below its current trading price. The downgrade is primarily due to valuation concerns, as the stock has exceeded $400 per share despite earnings estimates being nearly halved over the past year. InvestingPro data also indicates Saia is trading above its calculated Fair Value, with a P/E ratio of 37.04.