Non-Asset Transportation Catches Eye of Wall Street
ORLANDO, Fla. — Wall Street is sending a signal to non-asset-based transportation companies: Give us more.
“Your clients are more global and if you’re not helping them, they will find someone who will,” Burns told his audience of mostly small and medium-size freight brokers, forwarders and logistics service providers.
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Investors are bidding up the price of stock in companies like C.H. Robinson Worldwide, the Minneapolis-based truck brokerage and logistics provider, because they like the growth prospects of transportation intermediaries and the likelihood of increased consolidation among the world’s biggest transportation companies.
“You haven’t seen anything yet,” Gregory E. Burns, vice president of equity research for Lazard Freres & Co. in New York, said in a presentation to members of the Transportation Intermediaries Association, which held its annual conference from March 9 to 11.
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