Morgan Stanley Revises Echo Global Logistics Estimates

Morgan Stanley's revised estimates on Echo Global Logistics, Inc.

are 11% below consensus for 2010 and 21% for 2011, the company reports this morning. “Consensus expects a rapid acceleration in ‘core' op margins – a scenario more like our bull case – despite a number of near-term headwinds,” Morgan Stanley writes. “If the story will take longer to play out, the stock does not warrant a best-in-breed CHRW-like multiple, in our view.” Echo Global Logistics closed Friday at $11.90.