XPO Logistics price target raised to $83 from $71 at UBS

UBS analyst Thomas Wadewitz raised the firm’s price target on XPO Logistics to $83 from $71 and keeps a Buy rating on the shares. XPO’s Q2 adjusted EPS was better than expectations, and its North American LTL cost side performance was also better than the firm’s model driven by purchased transportation expense down 35% y/y, the analyst tells investors in a research note.