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Jefferies appreciates your support in the 2025 Extel Australia and New Zealand Research Survey
Our Nominees
Stephen Blagg
Sustainability (ESG)
Stephen Blagg
Sustainability (ESG)
Stephen Blagg has been publishing a unique brand of data driven ESG research for over 9 years. He ranked No.1 ESG Equity Strategist in Australia in the recent Asiamoney poll and has consistently recently ranked top 3 ESG Equity Research Analyst in the Peter Lee polls.
What I am Known For
- Identifying key global ESG themes
- Developing new alternative ESG datasets
- Developing systems and methodologies for the analysis of company-specific ESG factors
How I am Different
- We deliver sector-best key picks with a scaled-back ESG scoring mechanism
- We discard the less-meaningful information and data and focus on the big-ticket ESG issues.
- We collaborate: ESG data intertwined with fundamental sector analysts’ perspectives,
- We are unique in delivering this data driven ESG Research product as well as completing bespoke client requests.
Key Research Highlights
- Human Capital Leaders in Consumer Discretionary driving Gender Pay Equality 25 June, 2024
- What You May Have Missed, and What Was Missing from Financials ESG Disclosures 23 Sept 2024
- Government Strengthens Climate Active Emissions Cuts for Business 23 Oct 2023
- ESG Made Efficient: Dispensing with the Superfluous 10 Jul 2023
Michael Simotas
Consumer Discretionary, Consumer Staples, Oil & Gas
Michael Simotas
Consumer Discretionary, Consumer Staples, Oil & Gas
Michael leads Consumer Equity Research with coverage of Retail, Food & Beverage and Petroleum Refiner/ Marketer stocks. Prior to this, he spent >12 years as an Equity Analyst at a bulge bracket investment bank, initially covering Healthcare and later covering Consumer where he was highly rated by institutional clients.
Consumer Discretionary
What I am Known For
- More than 12 years experience covering discretionary retail and practical experience in the retail industry.
- Consistent top 3 ratings across key institutional surveys
- A solid track record of identifying turning points in the overall industry and individual companies.
- Deep and broad network of industry contacts across the value chain.
- A track record of successful counter-consensus stock recommendations based on detailed analysis and channel checks.
How I am Different
- DMP: Counter-consensus underperform rating premised on 1) needing to cycle the COVID benefit; 2) investment required in Australia ; and 3) inflationary impost.
- FLT: Identified the balance sheet issue early – c. 2 months before an emergency, highly dilutive equity issuance when much of the market was comfortable and the share price was high. Had a strong negative view that despite the demand recovery, profitability would remain poor due to commission pressure, cost growth and adverse mix.
- Household savings analysis: Our analysis of national accounts data highlighted large household savings balances, supporting continued consumption.
Key Research Highlights
- Harvey Norman: Holy Deleverage Batman! U/G to Hold 27 Oct 2023
- Super Retail Group: Substantial Wage Cost Catch-Up in FY25 ) 5 Mar 2024
- Domino’s Pizza Enterprises: When Bears Become Bulls; Upgrade to Buy 21 Feb 2024
- Japan – It’s All About the AWUS 9 Apr 2024
Corporate & Strategic Access
- Miami Consumer Conference (Nov 2023)
- Asia Forum – Hong Kong (March 2024)
- Numerous expert calls, meetings & site visits (retailers, suppliers, landlords)
Consumer Staples
What I am Known For
- >12 years experience covering Australian Consumer Staples
- Consistent top 3 ratings across key institutional surveys.
- Solid track record of identifying turning points in the overall industry and individual companies.
- Deep and broad network of industry contacts and proprietary data across the value chain.
How I am Different
- Supermarkets: Proprietary 12 year time series of supermarket pricing which has a consistent track record of identifying turning points in inflation and pricing relativities.
- EDV: Only major broker to initiate coverage on the date of demerger and we maintained a non-consensus Buy rating at the time.
- TWE: Our discussions with a network of industry contacts, analysis of export data and peer comparable analysis highlighted the business’ early success in reallocating wine from China, as well as the improving execution in the US.
Key Research Highlights
- JEF Supermarket Inflation Index: Packaged Inflation Moderation Offset by Fresh 1 Oct 2024
- Endeavour Group: FY24 Result – Overhang Not Hungover 26 Aug 2024
- Woolworths: FY24 Result – Passing the Baton 28 Aug 2024
- Coles: FY24 Result – Calendar Flattery 27 Aug 2024
- Treasury Wine Estates: Analysing Financial Impact of Commercial Divestment at FY24 result 15 Aug 2024
Corporate & Strategic Access
- Miami Consumer Conference (November 2023)
- Asia Forum – Hong Kong (March 2024)
- Numerous expert calls, meetings & site visits (wine distributors, wine competitors, supermarket operators, pub & gaming operators)
Oil & Gas
What I am Known For
- Deep understanding of the Refining/Marketing industry and have covered Viva Energy since the IPO.
- A decade of experience covering retail, including the refiner/marketers’ retail partners which has facilitated stress testing of their retail strategies.
- Deep network of industry contacts.
- Regular, detailed analysis of publicly-available refining and retail margin drivers.
How I am Different
- Refiner Marketer Weekly – Real-time analysis of high frequency refining and retail margins (including for New Zealand) as well as industry volumes data.
- Minimum stockholding obligation (MSO) analysis – The first team to recognize and quantify the benefit from the competitive advantage provided
- ALD & VEA: Despite recent weakness in regional refining margins, we like ALD & VEA given strong performance in the higher multiple marketing business with the industry remaining highly rational and benefiting from strong retail margins. In refining, we remain positive on the long-term outlook, given the global supply shortfall.
Key Research Highlights
- Weekly Refining & Marketing Margin Monitor 18 Oct 2024
- Ampol: Board Price Too Low – Upgrade to Buy 9 Sept 2024
- Viva Energy: On the Run to the $1,250m EBITDA Target 26 Aug 2024
- Electric Shock? Norway EV Case Study 17 June 2024
Corporate & Strategic Access
- Asia Forum (March 2024)
- Numerous expert calls
John Campbell
Consumer Discretionary, Industrials, Small/ Mid Caps, Technology IT Services & Software
John Campbell
Consumer Discretionary, Industrials, Small/ Mid Caps, Technology IT Services & Software
John Campbell joined Jefferies in July of 2020, following 10 years as Managing Director and Portfolio Manager, Avoca Investment Management, an Australian small / mid-cap investment manager. Prior to that, he was a Managing Director and Portfolio Manager at UBS Global Asset Management for 8 years covering Australian small caps. He began his equity research career in 1988 at Maple-Brown Abbott, and has covered basic industries, transport, healthcare, utilities and small caps. John received a BComm (Finance) and LLB from University of Queensland and an MBA from University of Melbourne.
Tom Chapman joined Jefferies as an Associate in December 2022 in the Small Caps team. Prior to joining Jefferies, he worked part-time at CCZ Equities as an associate and covering analyst where he began his equity research career in February 2021. Alongside his position at CCZ Equities, Tom completed his Bachelor of Commerce degree at The University of Sydney, majoring in Finance and International Business.
Consumer Discretionary
What I am Known For
- Broad coverage of Australian Small Cap Industrials across multiple GICS sectors
- Long term focus on Porter’s 5 forces
- Deep industry knowledge and non-consensus sources
How I am Different
- Having spent the last ~35 years looking at Australian small-cap equities from both the buy-side and sell-side perspective, he has an entrenched understanding of the space, what different style investors are looking for, and what drives each stock. With global rates seemingly peaking, the setting — though still challenging domestically — looks better for equities and better for Aust SMIDs in particular which have underperformed for multi-years.
Key Research Highlights
- Corporate Travel Management : FY24 Result: Communication Breakdown 21 Aug 2024
- ARB : Earnings Tweak Down; Valn Tweak Up 18 Oct 2024
- oOh media: Outdoor Resilience — Upgrade to BUY 1 Aug 2024
Industrials
What I am Known For
- Broad coverage of Australian Small Cap Industrials across multiple GICS sectors
- Long term focus on Porter’s 5 forces
- Deep industry knowledge and non-consensus sources
How I am Different
- Having spent the last ~35 years looking at Australian small-cap equities from both the buy-side and sell-side perspective, he has an entrenched understanding of the space, what different style investors are looking for, and what drives each stock. With global rates seemingly peaking, the setting — though still challenging domestically — looks better for equities and better for Aust SMIDs in particular which have underperformed for multi-years.
Key Research Highlights
- NRW Holdings: Blue Sky Mine 15 Aug 2024
- ALS Ltd : Only Substantive Issue Was Higher Interest 19 Sept 2024
- Johns Lyng: Have You Ever Seen The Rain? D/g PT; U/g to Buy 27 Aug 2024
Small & Midcap
What I am Known For
- Broad coverage of Australian Small Cap Industrials across multiple GICS sectors
- Long term focus on Porter’s 5 forces
- Deep industry knowledge and non-consensus sources
How I am Different
- Having spent the last ~35 years looking at Australian small-cap equities from both the buy-side and sell-side perspective, he has an entrenched understanding of the space, what different style investors are looking for, and what drives each stock. With global rates seemingly peaking, the setting — though still challenging domestically — looks better for equities and better for Aust SMIDs in particular which have underperformed for multi-years.
Key Research Highlights
- Corporate Travel Management : FY24 Result: Communication Breakdown 21 Aug 2024
- ALS Ltd : Only Substantive Issue Was Higher Interest 19 Sept 2024
- Johns Lyng: Have You Ever Seen The Rain? D/g PT; U/g to Buy 27 Aug 2024
Corporate & Strategic Access
- Chrysos Corp (C79 AU) Group Call; Major Drilling Group International Inc (MDI) Group Call
TMT
・Catapult Group: Valuation U/G – Maintain BUY 24 Jul 2024
・oOh media: Outdoor Resilience — Upgrade to BUY 1 Aug 2024
・Johns Lyng: Have You Ever Seen The Rain? D/g PT; U/g to BUY 27 Aug 2024
David Stanton
Healthcare, Pharmaceuticals & Biotechnology
David Stanton
Healthcare, Pharmaceuticals & Biotechnology
David Stanton joined Jefferies Australia in September 2019. Prior to joining the company David worked for ABN Amro/RBS, Nomura and CLSA in Sydney. David is a Doctor of Medicine and holds an MBA from the Australian Graduate School of Management.
Vanessa Thomson joined Jefferies Australia in September 2019 from CLSA Australia. Before this Vanessa worked on the buy-side at ING Investment Management in their Australian and AsPac businesses. Vanessa has a BSc in Pure Maths, an MBA from the Australian Graduate School of Management and is an Associate of the Institute of Actuaries.
What I am Known For
- Deep understanding of healthcare stock market from global perspective
- Detailed sector knowledge on development pipelines
- A focus on upcoming catalysts, estimating upside/downside of an event
How I am Different
- In depth pieces on Australian Healthcare: The Australian healthcare firms that operate in a global context are, in general, large players in niche oligopolies. Australia’s ageing population will drive use of healthcare services.
- In depth pieces on Australian Aged care and PHI sector: We expect listed operators to see margins under pressure until there is meaningful reform of the sector.
- In depth analysis of recovery from COVID-19: As Australia emerges from COVID lockdowns, on a stock-by-stock basis we identify catalysts for each stock.
- Deep dives on CSL AU: We are increasingly bullish on IG vs. FcRns after our research. Also have done in-depth work on plasma collection industry and the Vifor acquisition.
- Initiations, industry feedback and 50+ calls
Key Research Highlights
- Niche Players with a Global Footprint; Initiating on Australian Healthcare 20 Oct 2019
- A Benign Regulatory Environment – Initiating on Australian Healthcare Services 6 Dec 2019
- Claim to Fame: Initiating on Australian Private Health Insurers 20 Jul 2022
- CSL Limited: Vifor Deep Dive – Opportunities Exist for the Combined Business 9 Mar 2022
- Plasma Industry – Underpenetrated & Rational. Deep Dive on CSL, Grifols, Takeda 20 Apr 2023
Corporate & Strategic Access
- Tour: UK Healthcare Tour (Nov. 2024)
- Conferences: Multiple Australian companies at Jefferies New York and London Healthcare Conferences (June and Nov. 2024)
- Expert Events
Simon Fitzgerald
Financials (Non-Banking), Industrials
Simon Fitzgerald
Financials (Non-Banking), Industrials
Simon Fitzgerald has over 26 years of experience in Australian equities, with more than 13 years experience as a sell side analyst. Having worked in buy side roles as well, Simon’s approach is in context of portfolio construction regarding recommendations.
What I am Known For
- Deep understanding of Diversified Financials and the Insurance sector, both domestically and internationally.
- Strong industry contacts.
- Focus on robust modelling and valuation techniques with a focus on longer-term drivers and industry trends.
- A focus on upcoming catalysts, estimating upside/downside of an event
How I am Different
- We are the only major broker to initiate coverage on Generation Development Group (GDG.AU). Buy rating at initiation.
- In depth analysis of Australian insurers that is bolstered by Jefferies’ global research Insurance offering, providing insights into offshore reinsurance and primary markets. This is particularly important for QBE.AU coverage.
- Platforms: Coverage of AMP, NWL and HUB allows for strong analysis of the wealth platform industry. This is aided by expert calls and engagement with the company.
Key Research Highlights
- HUB 1Q25 – Downgrade to Underperform on Valuation Grounds 15 Oct 2024
- AMP 3Q24 – Momentum in IFA Inflows 17 Oct 2024
- Insurance – June ’24 Reporting Season
Corporate & Strategic Access
- Expert Call: Call with Recep Peker, the CEO of SuitabilityHub. SuitabilityHub compares wealth platforms on over 500 metrics to assist advisers. (June 2024).
- Expert Call: Call with James Callan of James Callan Associates to address topical areas surrounding agriculture, crop protection, federal crop insurance, the environment, and interactions with the U.S. Department of Agriculture (USDA). May 2024.
Mitch Ryan
Metals & Mining
Mitch Ryan
Metals & Mining
Mitch Ryan joined Jefferies in October 2020, following six years as a buy-side senior analyst covering the ex-100 ASX universe. Prior to this Mitch was a Metals & Mining analyst at Macquarie from 2009-2014 with a primary focus on precious metals stocks. His experience includes four years as an ECM analyst at Bell Potter. Mitch is currently studying a Masters of Mining Engineering at UNSW. He has qualified as a Chartered Accountant and received a dual Bachelor of Science (Biomedical) & Commerce from the University of Queensland.
Dan Roden joined Jefferies in March 2021 as a Mining and Metals Equity Research Associate. Previously, Dan worked at BHP Iron Ore in the Pilbara for four years in the Short-Term Scheduling and Drill and Blast space, and also has experience in metallurgical coal and underground copper. Dan has a duel degree in Mining Engineering and Commerce.
What We Are Known For
- Deep understanding of the ASX listed Metals & Mining Sector
- Sector knowledge on relative outloooks
- A focus on upcoming catalysts, estimating upside/downside of an event
How Are We Different
- MIN (Underperform) https://jefferies-portal.bluematrix.com/report/3e940bad-3304-4606-b66e-8f788d9ad46e
- Paladin Energy (Buy): FY24 – Fission Impossible? (https://jefferies-portal.bluematrix.com/report/32dcc06a-cf2f-4a25-900a-d031b84ca71a)
Key Research Highlights
- Evolution: Detailed Site Visit Wrap (https://jefferies-portal.bluematrix.com/report/572da035-9ed2-4a81-800b-9b650ff0064b) 23 June 2024
- Sandfire: Detailed Site Visit Wrap (https://jefferies-portal.bluematrix.com/report/c6e5959f-dc5f-4634-8d1f-a97ce1e71919) 26 May 2024
- Northern Star: Gold price upside (https://javatar.bluematrix.com/docs/html/714e335e-bcc1-4fcf-9f11-84928ee70c21.html) 22 Aug 2024
Corporate & Strategic Access
- Tour – Japan, South Korea & China – EV Supply Chain
- Corporate Access – Capstone Copper Australian NDR
Amit Kanwatia
Australia/New Zealand Research
Amit Kanwatia
Australia/New Zealand Research
What I am Known For
- Over 10 years of experience in covering the Australian transport and infrastructure sector and initiated on waste sector in 2020.
- Known for deep company specific knowledge, but also have a strong track record of delivering alpha from my calls.
- Have industry contacts with decision makers across my coverage, allowing me to identify threats and opportunities ahead of others.
How I am Different
- Known for being able to identify themes and lead the debate on key industry changes. We provide counter consensus view on Cleanaway and Auckland Airport.
Key Research Highlights
- Cleanaway: Defensive Earnings Growth Despite Tough Macro Environment.17 October 23
- Auckland Airport: Strong Recovery in Uncertain Return Environment. 24 August 23
Chris LaFemina
Metals & Mining
Chris LaFemina
Metals & Mining
What I Am Known For:
- Nearly three decades of unique global coverage of the mining and steel sectors, top II rankings in the US (#1) and Europe (#3), in depth analysis of supply and demand for key commodities (with a focus on copper, iron ore, and met coal), strong relationships with management teams, traders, investors and various other industry participants in all major regions, and sector-leading research on Freeport, Teck, Glencore, Anglo American, First Quantum, and Alcoa, among others.
How I Am Different:
- We do our own commodity supply and demand analysis, and our team covers major mining stocks in all regions rather than having coverage siloed by region. Our global team is fully integrated, and our coverage is broad and deep. We publish a high volume of differentiated research, and we have a larger client base than almost all other analysts in the sector.
3-5 Key Research Highlights:
- Examining Copper Production Trends for 3Q24, Part II 27 Oct 2024
- Met Coal Competitive Analysis, 1H24 13 Sept 2024
- Mining Minutes | Earnings Tricks/Treats 26 Oct 2024
- Steel Trends | The Waiting Game 24 Oct 2024
- United States Steel Sector Initiation – Winds of Change 19 May 2024
- Updating Commodity Price Deck; Downgrading BHP 4 Oct 2024
Wei Sim
Small/ Mid Caps, Technology IT Services & Software
Wei Sim
Small/ Mid Caps, Technology IT Services & Software
Wei Sim (Wei) joined Jefferies in May of 2023, following two years as a senior analyst covering technology at Macquarie. He began his equity research career in 2006, and has covered transport, infrastructure, materials, utilities, autos and technology sectors. His experience includes fifteen years in Hong Kong and covering HK/China auto stocks, where he was the regional team leader for HSBC’s auto research effort. Wei has been ranked in Asia Money and Peter Lee for his work on materials, autos, and tech coverage. Wei holds is a SASB FSA credential holder and received a BA in Finance and Actuarial Studies from the University of New South Wales.
Jennifer Xu joined Jefferies in March 2024. Jennifer previously worked at CSLA as an Accountant and prior to that at Maoneng Australia. Jennifer has a Bachelor of Business Administration (Accounting) from Macau University of Science and Technology and a Master of Professional Accounting (MPA) from The University of Sydney.
Small & Midcap
What We Are Known For
- Generating Alpha
- Discovering uncovered or misunderstood companies
How We Are Different
- IDP Education: Consensus forecasts beyond FY25 too high
Key Research Highlights
- Life360 – Valuing for 2025 21 Oct 2024
- IDP Education – CA Study Permit Reaffirms Softer for Longer 22 Sept 2024
- Nuix – You Are the One, Neo: Initiate at BUY 2 Sept 2024
TMT
How We Are Different
- TechnologyOne (TNE AU, BUY): High conviction buy with top of street PT as street has yet to do the work on SaaS+
Key Research Highlights
- For Wei Sim:・TechnologyOne – SaaS+: Stronger for Longer 5 Aug 2024
- For Jennifer: Nuix – You Are the One, Neo: Initiate at BUY 2 Sept 2024
Corporate & Strategic Access
Tour: US RSNA (Healhtcare)/Tech tour (Dec 2024)
Anthony Moulder
Transportation
Anthony Moulder
Transportation
Anthony Moulder joined Jefferies Australia in 2019 as the Head of Transport and Infrastructure research. Anthony started researching the transport sector in 2002, adding infrastructure coverage in 2007. Starting with Credit Suisse in 2002, and then moving to Citigroup in 2012, Anthony has consistently been a Top 3 ranked analyst – covering airlines, airports, rail, logistics, ports and toll roads. Prior to joining equities research, Anthony worked in telecommunications finance for Telstra and Telecom New Zealand. Anthony grew up in Wellington, New Zealand and graduated from Victoria University.
Amit Kanwatia joined Jefferies Australia in 2019 as a research associate covering the transport and infrastructure sector. Prior to joining Jefferies, he worked with CLSA and Citigroup in research covering the same sector for six years as part of the same team consistently ranked in top three for transport. Amit also spent three years with Crisil in Mumbai covering the European infrastructure sector. Amit holds a Bachelor of Engineering from the University of Mumbai and is a CFA charter holder.
What We Are Known For
- We have been covering the Australian Transportation sector for the last 22 years.
- We are consistently ranked Top 3 in covering Australian Transport and Australian Infrastructure.
- Our sector knowledge and experience is one of the longest on the Street.
- Offers view on companies’ through-the-cycle trading and valuation, in-depth modeling.
- Access to proprietary data sets that monitors key variables (airfares, capacity schedules) to identify where are we in the earnings cycle.
- A balanced and consistent approach to stock ratings with consistent alpha generation.
How We Are Different
- Airlines – Analysis of airfare dataset (pricing and capacity) that has been collected for 12 years, the ability to deliver fleet renewal while also delivering returns.
- Pallets – Strong industry contacts (pooling and whitwewood service providers, FMCG customers) supporting our analysis on price increase cycle, net new wins, and also in-depth view on the issues around plastic pallets.
- Coal and Bulk transport – In-depth understanding and dataset of the coal haulage market, strong industry contacts (transport service providers, 3PL operators, government agency) supporting our view on Intermodal and Bulk growth opportunities.
- Infrastructure – In-depth understanding of through the cycle issues for long duration infrastructure assets (toll roads, airports).
Key Research Highlights
- Qantas: Reassessing Fair Value, TP to $10.53, Buy 22 Oct 2024
- Brambles: Pricing and Cycle Time Improvements, Upgrade to Hold 21 Aug 2024
- Infrastructure: Looking Through French Political Uncertainty 16 June 2024
Corporate & Strategic Access
- Asia Forum – Hong Kong (March 2024)
- Numerous expert calls, meetings & site visits
Roger Samuel
Technology IT Services & Software, Telecommunications
Roger Samuel
Technology IT Services & Software, Telecommunications
Roger Samuel joined Jefferies in July 2019 covering telecom, media, technology as well as small/mid-cap industrials. Prior to this, Roger was at CLSA, Nomura and Goldman Sachs covering TMT, small caps and healthcare sectors for 12 years. Roger is highly ranked by institutional investors and he was awarded the best stock picker by StarMine in 2017 and 2018 in telecom & IT services, and online media services. Roger is a CFA charterholder and previously a committee member of CFA Society of Sydney where he was responsible for candidate services and technology. Roger received a scholarship and graduated from the University of Melbourne.
What We Are/I Am Known For:
- Industry contacts and sector knowledge
- A focus on data tracking, earnings drivers, and momentum
- Corporate access, Management insights
How We Are/I Am Different:
- Megaport (MP1 AU, BUY) Do not think there is a structural Issue, expect Gen AI to be a demand tailwind.
- NextDC (NXT AU, BUY) Bullish on DC thematic in Australia and Asia Pacific
3-5 Key Research Highlights:
- Infratil (IFT-NZ): Intersection of AI Data Centres and Renewable Energy; Initiate at Buy 7 Aug 2024
- TMT Key Picks Post Aug-24 Reporting Season: 6 Sept 2024
- Car Group (CAR AU): There is Still Gas Left in the Tank 26 Jan 2024
- Xero Limited (XRO AU): Multiple Jobs Pay The Bills 29 Feb 2024
Corporate & Strategic Access
- Jefferies Global Software Conference Newport Beach (May 2024)
- Sydney Digital Infrastructure Tour (June 2024)
- Brisbane Geek Tour (November 2024)
- Melbourne Telco and Online Marketplace Tour (November 2024)
Henry Copley
Industrials
Henry Copley
Industrials
Henry Copley joined Jefferies in February of 2023, following the completion of a Bachelor of Commerce degree majoring in Finance from the University of Queensland. While at University, Henry was often recognized on the Dean’s commendation list for Academic Excellence. At Jefferies, Henry has gained experience as an associate across the Paper & Packaging, Chemicals, Contractors, Building Materials, Steel and Gaming teams.
What We Are/I Am Known For:
- Henry Copley provides in-depth knowledge of the various segments from market-leading tenure of continuous coverage and in industry experience. He is known for carefully monitoring the Industrials market and tracking any moving parts globally that might have an effect on his coverage.
How We Are/I Am Different:
- Insightful market updates, which aids clients in decision making.
- A strong industrials dataset and deep network of relationship providing unparalled insights.
Key Research Highlights:
- Orora: Glass Half Full 16 Oct 2024
- Orica: Trading Update 19 Sept 2024
- Incitec Picot Limited: Fresh Start 17 Sept 2024
- Amcor: Growth Puzzle 3 Sept 2024
Kai Erman
Leisure, Entertainment & Hotels
Kai Erman
Leisure, Entertainment & Hotels
Kai Erman joined Jefferies as an Associate in April 2022 in the Industrials team, supporting coverage of Building Materials, Steel and Gaming. Previously, Kai worked at EY for two years as a Management Consultant working on corporate strategy and operations. Kai completed a Bachelor of Commerce at the University of Sydney majoring in Finance and Economics.
What We Are/I Am Known For:
- Kai Erman provides in-depth knowledge of the various segments from market-leading tenure of continuous coverage and in industry experience. He is known for carefully monitoring the Gaming market and tracking any moving parts globally that might have an effect on his coverage.
How We Are/I Am Different:
- Star Entertainment Group (SGR AU, UNPF) https://jefferies-portal.bluematrix.com/report/1319766e-74fc-47ee-9141-932901671a86
Short thesis on SGR given balance sheet analysis and expectations for capital shortfall. - PoinstBet Holdings (PBH AU, BUY) https://jefferies-portal.bluematrix.com/report/831f881b-0b67-4d31-b38b-906b6f9d8004
Attractive growth opportunity turning free cash flow positive.
3-5 Key Research Highlights:
- Star Entertainment Group: Balance Sheet Needs Relief (https://javatar.bluematrix.com/docs/html/1319766e-74fc-47ee-9141-932901671a86.html) 26 Sept 2024
Corporate & Strategic Access
- Jefferies Hosts: Meetings & Both Tours at the Global Gaming Expo (G2E) in Las Vegas
- Expert Calls (such as Jef U Expert Call: The Legal Side of Trade Secrets in Slots)
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