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Fly News Breaks for July 31, 2017
ECHO
Jul 31, 2017 | 07:55 EDT
Credit Suisse analyst Allison Landry downgraded Echo Global to Neutral from Outperform, noting that revenue growth is likely to underwhelm as the company sacrifices volumes for price in order to preserve net revenue margins, the freight market will remain in a slow grind recovery for the foreseeable future, synergies from Command are on pause until it gets through a rough patch in the market, and management officially pulled its 2018 guidance for $150M of EBITDA. The analyst also lowered her price target on the shares to $14 from $23.
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