This 120-page report lays out our bullish long-term thesis on the domestic intermodal sector as well as the best ways to invest in secular intermodal growth opportunities. Within the report we provides a deep dive analysis on the intermodal market, including a detailed overview of the market, key players and market share stats. We also discuss the differences between the international and domestic intermodal markets, review each rail’s exposure to intermodal and discuss why intermodal is much more profitable for the rails today versus 20 years ago. We also provide a detailed analysis of the underlying secular demand drivers for domestic intermodal volumes and try to quantify how quickly the market can grow over the next five to ten years and what this could mean for earnings with a similar discussion on international intermodal drivers. We conclude with profiles on the three largest domestic intermodal providers, JBHT , HUBG and PACR (each rated Outperform).