UPDATE: BB&T Capital Downgrades Echo Global Logistics (ECHO) to Hold
Get Alerts ECHO Hot Sheet
Rating Summary:
3 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 4 | New: 35
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BB&T Capital downgraded Echo Global Logistics (NASDAQ: ECHO) from Buy to Hold and removed its price target (prior $29.00). The change is tied to valuation.
Analyst Thomas S. Albrecht said, "While we like the long-term story and believe ECHO will continue to grow faster than the freight brokerage market in general, we believe the stock is fairly valued, with limited upside to either the stock or EPS estimates. This is especially true given a spot market that is more tame so far in 2015, although the spot market is likely to accelerate in 2016 as various new regulations are placed upon the trucking industry, all of which will contract capacity and make the broker proposition more valuable."
For an analyst ratings summary and ratings history on Echo Global Logistics click here. For more ratings news on Echo Global Logistics click here.
Shares of Echo Global Logistics closed at $29.00 yesterday.
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