David Stanton
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
Anthony Moulder
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
Amit Kanwatia
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