Morgan Stanley Sees Good Things Ahead for Echo Global Logistics

In a report published Tuesday, Morgan Stanley analyst William J. Greene reiterated an Overweight rating and $23.50 price target on

. In the report, Morgan Stanley noted, “ECHO should benefit from market share gains, margin expansion, and accretive M&A. Despite recently lowered growth expectations, ECHO is still one of the faster growing companies in our universe. As long as this growth sustains, ECHO should enjoy a multiple in-line with other non-asset growth plays around 20-25x. Any rebound in macro could even lead to more growth than we currently forecast. Thus, we rate shares OW.” Echo Global Logistics closed on Monday at $19.10.