Echo Global upgraded to Outperform from Market Perform at FBR Capital FBR Capital upgraded Echo Global to Outperform citing the recent rise in truckload spot market volumes and pricing. The firm raised its price target for shares to $20 from $17.
Echo Global shares could rally to mid-$40s in 2016, says FBR Capital FBR Capital raised its price target for Echo Global to $43 from $38 saying the stock could reach the mid $40s in 2016 on accretion from the Command Transportation acquisition. FBR has a "high level of confidence" that Echo will "materially" raise its long-term guidance after the deal is closed. The firm keeps an Outperform rating on the name.