Cowen says UPS and FedEx to benefit from shipping the coronavirus vaccine

A FedEx employee wearing a protective mask and gloves loads boxes into a truck amid the coronavirus pandemic on April 28, 2020 in New York City,
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With multiple vaccine candidates currently in phase three trials, investors should turn their attention to the companies that will be key in distributing a successful drug, Cowen said in a note to clients Tuesday. 

Once a vaccine is approved, hundreds of millions of doses will need to be shipped around the U.S. and beyond.  Centers for Disease Control and Prevention Director Robert Redfield told a Senate panel last week that he expects there to be enough doses for Americans to return to "regular life" in the third quarter of 2021.

Cowen said in the note that it thinks that timeline is too aggressive and that many investors are "underestimating" the distribution timeline, which the firm believes will extend "likely through 2021 and 2022." That longer process will boost freight carriers like FedEx and UPS, the note said.