Morgan Stanley Maintains EW Rating on Echo Global Logistics

Echo Global Logistics, Inc.'s ECHO investor day more clearly articulated both the “growth opportunity and specific execution strategies,” Morgan Stanley reports. “Management issued compelling growth targets in the face of economic challenges, which combined with recent earnings performance could generate more investor interest in the stock,” Morgan Stanley writes. “That said, as a growth stock, Echo clearly needs to beat estimates to outperform, and we wouldn't classify estimates or guidance as overly conservative. “We also did not come away with the expectation that large earnings revisions are around the corner. Thus, we maintain our Equal-weight rating.” Echo Global Logistics closed Monday at $14.21.