Benzinga | Oct 19, 2021 01:03PM EDT

BofA Bumps Price Target For Saia, ArcBest, Old Dominion

* 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 $272 (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 $103 (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 $300 (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.