Echo Global THRIVES Despite Dull Environment and Key Analyst Ratings Today
Ryder System, Inc. (NYSE:R) price target has been lowered by Baird as a reflection of its decreased Q2 and full year outlook. Because of stable rental demand, rental fleet reductions, and cost initiatives, the firm states that it would buy the shares under $40 and maintains an Outperform rating on the stock.
Celgene Corporation (NASDAQ:CELG): According to Baird, Celgene’s EU Revlimed delay is a setback but views the sell-off as overdone. Since the firm predicts there will be a credible path for approval with CHMP materializing within the upcoming quarters and is a value play, the firm maintains its Outperform rating and a $78 price target on the stock.
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Bruker Corporation (NASDAQ:BRKR): Following Bruker’s 13% stock decline since June 18, Wells Fargo views the decline as overdone, and the firm predicts that the impact of weakening European product lines as possibly modest. Wells Fargo recommends that the shares should be purchased by long term investors
CSX Corp. (NYSE:CSX): Although JPMorgan predicts a trade down of railroad stocks following Judge Friendman’s certification of the class in the rail fuel surcharge antitrust case, the firm does not see evidence of railroad overcharging and expects the railroads to appeal the decision. The case’s defendants are Union Pacific (NYSE:UNP), BNSF Railway, CSX (NYSE:CSX) and Norfolk Southern (NYSE:NSC).
Echo Global Logistics, Inc. (NASDAQ:ECHO) price target has been increased by FBR Capital, who also maintains an Outperform rating for the company, after its analyst day. FBR states that the meeting left it more optimistic concerning the company’s ability to increase revenue and earnings, even in a dull freight environment.
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