Anthony Moulder

Anthony joined Jefferies in 2019 to lead Transport and Infrastructure Research, and has since expanded coverage to include the Utilities sector. He brings >20 years of equity research experience, having previously held senior roles at Citi, Credit Suisse and CLSA. Anthony has consistently been a Top 3 ranked analyst.

Transport & Infrastructure

What We Are Known For

• Over two decades of experience in Transport and Infrastructure research, offering deep sector and company specific knowledge and a strong network of industry contacts.
• Consistently ranked Top 3 across key institutional surveys.
• Access to proprietary datasets that help identify positioning within the earnings cycle.
• Solid track record of identifying counter-consensus stock calls based on detailed analysis and channel checks.

How We Are Different

• Airlines – We leverage a 12-year proprietary airfare dataset to assess pricing, capacity, and fleet renewal strategies.
• Pallets – Strong industry relationships support analysis of demand levels, pricing cycles, net wins, and structural opportunities and threats.
• Coal & Bulk Transport – Our datasets and industry contacts inform views on coal haulage dynamics and Bulk / Intermodal growth opportunities.
• Infrastructure – We offer through-the-cycle perspectives on long-duration assets such as toll roads and airports, underpinned by rigorous valuation frameworks, understanding of through the cycle issues for long duration infrastructure assets (toll roads, airports).

Corporate & Strategic Access

Given the extensive industry and corporate knowledge of the team following more than 20 years of coverage, we are known for our access to key industry decision makers, both listed and unlisted, and extending from C-suite management through to Board members. We utilise these relationships for differentiated corporate access for our clients as well as including these insights into our research/ valuations and conversations with clients.

Transport & Infrastructure

What We Are Known For

• Leveraging over two decades of research experience to provide a fresh perspective on Utilities coverage.
• Consistently ranked Top 3 across key institutional surveys.
• Delivering counter-consensus calls, differentiated research insights, and strong corporate access offering.

How We Are Different

• Monthly research product that monitors earnings performance for gentailers.
• Delivered a counter-consensus call on Origin Energy, supported by analysis of Kraken upside.
• Leading the debate on SaaS adoption within the Utilities sector, providing thought leadership and forward-looking perspectives.
• Clear views on the longer term need for greater electricity from gas as coal exits the market and the need for more gas pipelines.

Utilities

‘In the Utilities space we have already established models that provide insights to trading performance of the major utilities in Australia, as well as recently conducting the first utilities software conference highlighting the different technology solutions, which has been a point of differentiation in Amit Kanwatia’s Origin initiation. We continue to host numerous industry calls to deepen understanding of key industry issues for our clients.