(Adds Credit Suisse and Barrington Research comments)

Nov 11 (Reuters) - At least three brokerages started coverage of Echo Global Logistics Inc (ECHO.O: Quote, Profile, Research) with their top ratings and a price target at least 30 percent above the stock's Tuesday closing price.

Analysts said the company, a provider of technology enabled transportation and supply chain management services, had the advantage of an asset-light model and had potential for rapid revenue and profit growth.

Credit Suisse analyst Christopher Ceraso called Echo a 'baby freight broker on Red Bull' and said its capital-efficient business model has plenty of room to grow in a highly fragmented market that itself grows at about 12 percent annually.

"Echo has a significant opportunity to leverage operating expenses. This leverage will turn already robust revenue growth into even faster operating profit growth," said Ceraso, who rates the stock "outperform" with a price target of $20.

He estimates that Echo will earn about 18 cents a share in 2009 and jump to 51 cents in 2010.

Chicago-based Echo went public in October this year raising about $79.8 million.

Barrington Research said though Echo trades at a premium to its peers on most measures, it stands out as the fastest growing company on every measure -- organic revenue growth, total revenue growth and earnings growth.

Morgan Stanley initiated coverage with an "overweight" rating and said the non-asset based logistics company has plenty of potential for top-line growth.