Saia rises after BMO's rating upgrade

Shares of less-than-truckload carrier Saia SAIA.O up 2.1% to $329.11

BMO Capital Markets upgrades SAIA's rating to "outperform" from "market perform"; target price unchanged at $455

SAIA is down 45% over the past year, including a 29% pullback year-to-date amid rising macro uncertainty, fueled in large part by a shifting U.S. trade policy - BMO

BMO says momentum being created by the current administration's trade policies for a potential pick-up in U.S. industrial demand over the medium term, which SAIA is well-positioned to capitalize on

SAIA's network expansion will continue supporting market share gains and improvement in overhead absorption over the coming quarters - BMO

Up to last close, stock has fallen over 29% YTD