UPDATE: Stifel Upgrades XPO Logistics as Shares Fall Back to Attractive Valuation Range

In a report published Thursday, Stifel analyst John Larkin upgraded the rating on

from Hold to Buy, and named a $25.00 price target. In the report, Stifel noted, “We are upgrading our investment rating on the common shares of XPO Logistics from Hold to Buy as the recent market correction has disproportionately weighed on XPO's common share price. As we traveled around the hinterlands, the conversation often disproportionately revolves around XPO. While there are several questions about the company's senior management, the 3PD acquisition, and the company's growth trajectory, no one can dispute that XPO has largely done what it said it would do in spite of its complex strategy. So, as XPO's common shares have fallen back into a zone of relative valuation attractiveness, we are inclined to give management the benefit of the doubt and recommend purchase of the company's shares, as controversial as the call may be.” XPO Logistics closed on Wednesday at $19.61.