UPDATE: Stifel Nicolaus Raises PT to $21 on XPO Logistics on Execution

Stifel Nicolaus reiterated its Buy rating on XPO Logistics XPO and increased its price target from $19 to $21. Stifel Nicolaus noted, "As originally advertised a little over a year ago, the company continues to aggressively build its business, so far proving its many naysayers wrong. Many said it was not possible to roll up the asset-light transportation and logistics space while maintaining a prayer of integrating the various pieces into a homogenized entity. Instead the company is well on its way towards achieving its 2016/2017 objectives of generating $4 to $6 billion in annual gross revenue while generating more than $300 million in annualized EBITDA." XPO Logistics closed at $15.71 on Thursday.