< The 2014 All-Europe Research Team

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Juan Ramón Correas & team
Santander Investment Bolsa
First-Place Appearances: 10

Total Appearances: 18

Team Debut: 1996

Under new team leader Juan Ramón Correas, 45, Santander Investment Bolsa extends its winning streak to a fifth straight year. The 18-analyst troupe tracks 70 Spanish and Portuguese stocks from its base in Madrid. “Hands down, they’re the best analysts covering Spain,” declares one advocate. “I like their breadth of coverage, and nobody does a better job making macro calls. Their call early last year that Spain would begin recovery over the summer was spot on.” The researchers’ favorite names include Banco Bilbao Vizcaya Argentaria, on the view that the international bank offers the best combination of exposure to Spain’s rebounding economy as well as to Mexico, “one of the most interesting of the emerging markets,” says Correas. “BBVA has a sound capital position, and its shares offer greater than a 20 percent upside potential.” They dubbed the Bilbao-based bank’s stock a buy in early December, at €8.40, with a target price of €10.40. Correas has logged two decades in equity research and management, becoming expert on Iberian mining and steel stocks as well as small- and midcap segments. In 2009 he returned to Santander, after an eight-year stint at Deutsche Bank, and took over as head of European equity research last February, when former team leader Mariano Colmenar was promoted to global head of research at Santander Global Banking & Markets. Correas earned a master’s of science degree in economics and business administration at the University of Barcelona.