Loredana Serra & team Morgan Stanley
second team Robert Ford & team BofA–Merrill Lynch
third team Alexander Robarts & team Santander
After tying with Credit Suisse for third place last year, the three-member Morgan Stanley troupe led by New York–based Loredana Serra zooms to No. 1. for the first time since 2001. Praised by one money manager for being “particularly strong” at stock picking, the team urged clients in March to buy the ADRs of São Paulo–based Cía. de Bebidas das Américas, at $46.15, citing strong earnings at the region’s biggest brewery. By late July AmBev’s shares had bubbled up 52.4 percent, to $70.33.
In second place for a second straight year is the three-strong BofA-Merrill squad led by Robert Ford, described by one client as “one of the most respected analysts in the sector.” The team, headquartered in New York, recommended AmBev’s preferred shares in August 2008, at R102.83, on improving margins. As of late July AmBev’s stock was up 28.6 percent — 23.4 points ahead of the sector.
After two years in first place, the three-member Santander team guided by Alexander Robarts falls to third. Clients praise the New York–based team’s December buy recommendation on São Paulo–based JBS, the world’s largest beef processor, citing synergies stemming from last fall’s acquisition of U.S.-based Smithfield Beef Group. The stock gained a meaty 58.7 percent through July.
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