Macquarie Securities, the institutional equities arm of Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY), today announced the launch of research coverage in the US transport and logistics sector.
Macquarie’s coverage initially includes FedEx (NYSE: FDX), United Parcel Service (NYSE: UPS), Hub Group (NASDAQ: HUBG), C.H. Robinson (NASDAQ: CHRW), Expeditors International (NASDAQ: EXPD) and UTi Worldwide (NASDAQ: UTIW).
Macquarie’s coverage is being led by Kelly Dougherty, Senior Analyst in the Transport and Logistics research team. Ms. Dougherty joined Macquarie in May 2008. Prior to Macquarie, she was an analyst at Credit Agricole's Calyon Securities. In launching Macquarie’s research in the sector, Ms Dougherty said: “We believe select transport and logistics companies are poised to deliver accelerated and sustainable growth. In particular, US transports look attractive and inexpensive from a fundamental valuation and quantitative analysis. Despite a tepid economic recovery in the US, we see industrial momentum building which supports our favorable view of key names in the sector.”
Macquarie’s US transport and logistics team is globally coordinated with research counterparts in Europe and the Asia-Pacific region. The firm’s worldwide sector coverage now encompasses 21 analysts across 78 transport and logistics stocks, providing comprehensive sector and stock-specific research to the firm’s clients.
Andrew Root, Managing Director and Head of US Research said: “This initiative continues our commitment to providing deep specialist sector coverage in key global sector verticals. Our launch continues our strategy of delivering global and regional views on sector trends, and meaningful insights to clients that go beyond individual stocks. Research at Macquarie is ideas-driven and intellectually rigorous, and leverages the collective experience and intelligence of our position as one of the world’s largest fundamental and quantitative research firms.”
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,400 people and has assets under management of over $353 billion (as of September 30, 2012). Go to www.macquarie.us for more information.
About Macquarie Securities Group
Macquarie Securities Group operates as a global institutional securities house covering sales, research, ECM, execution and derivatives activities, and offers full-service cash equities in Australia, Asia, South Africa and Canada with specialized offerings in the US and Europe. Macquarie Securities Group operates in the US as Macquarie Capital (USA) Inc., a member of FINRA and SIPC. Further information can be found at www.macquarie.com/mgl/com/us/local-activities/trading-hedging/cash-equities.