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Fly News Breaks for July 7, 2017
ECHO
Jul 7, 2017 | 08:49 EDT
Macquarie analyst James Clement said Echo Global has had a challenging year with shares down 20%, but believes the shares are "washed out" around $20 per share and offer a compelling value for investors ahead of a freight turnaround. Clement said Echo is winning market share in the form of new business over the last several quarters and expects shares to be higher by the time Wall Street can definitively call a turnaround in trucking fundamentals. The analyst rates Echo an Outperform with a $29 price target.
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