Avondale Partners Starts Echo Global Logistics (ECHO) at Market Outperform
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Echo Global Logistics (ECHO) Remains 'Top Pick' for FBR Capital Despite Negative Market Sentiment - Reiterates Overweight
January 12, 2016 7:32 AM ESTFBR Capital reiterated an Outperform rating and $43.00 price target on Echo Global Logistics (NASDAQ: ECHO) in the face of increasingly negative market sentiment on the transport world. Echo's recently announced $50 million buyback represents just 8% of its current market cap, whereas the company ended 3Q15 with $43 million in cash on the balance sheet, and FBR is forecasting free cash flow of $34 million in 2015.
Analyst John Mims commented,... More
