Edison Initiates Coverage on Norbert Dentressangle

LONDON, April 7, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Norbert Dentressangle

     (Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

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.

To download this report, please click here.

All reports published by Edison are available to download free of charge from its website http://www.edisongroup.com.

About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact: 

Roger Johnston, Edison Investment Research, +44(0)20-3077-5722, [email protected]

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:  

LinkedIn: http://www.linkedin.com/company/edison-investment-research
Twitter: http://www.twitter.com/Edison_Inv_Res
YouTube: http://www.youtube.com/edisonitv

SOURCE Edison Investment Research

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