LONDON, April 7, 2015 /PRNewswire/ --
Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Norbert Dentressangle
Highlights of the analysis on Norbert Dentressangle by Edison's industrial support services analyst Roger Johnston include:
Norbert Dentressangle is a global logistics specialist that operates with the benefits of a family-owned ethos combined with a professionally managed approach. This has delivered year-on-year growth every year except 2009, while maintaining profitability throughout its 35-year history. Having started in the competitive transportation market and expanded up the supply chain, the cost and operational efficiency allows the group to deliver sector-leading margins. With the $750m acquisition of Jacobson completed in September 2014, the group has become a top 10 global player and holds the number four position in the US market.
The current rating of Norbert Dentressangle sits at a 31% discount to larger international peers. Following integration of Jacobson and with a top-to-tail supply chain offering in Europe, the US and increasingly worldwide, we believe Norbert Dentressangle looks more like global peers DHL, Kuehne+Nagel and DSV. Using a 20% discount to these comparators yields a fair value of €190/share.
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Roger Johnston, Edison Investment Research, +44(0)20-3077-5722, firstname.lastname@example.org
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