Carlos Peyrelongue & team Bank of America Merrill Lynch
The Bank of America Merrill Lynch crew slips from first place to second. Team leader Carlos Peyrelongue, who also captains a runner-up team in Cement & Construction, “has a really good perspective on Mexico — he knows companies and managements very well,” avers one backer. The Mexico City–based pair is bullish on Empresas ICA, the country’s largest construction outfit, because “we expect Mexico’s new president, Enrique Peña Nieto, to promote infrastructure investments,” Peyrelongue says. That’s an affordable proposition, he continues, as the country’s total debt to gross domestic product stands at 33 percent — much lower than the ratios in Germany and the U.S. — and shares of the Mexico City–based company are trading below book value. The researchers also like Mexico City’s América Móvil, dubbing the telecommunications services provider a “solid defensive story given its dominant competitive position in key markets, solid cash generation and attractive valuation,” he says. — Paul Sweeney
