Contrarians Take Top Ranks Among European Analysts

Analysts who went against the grain got better marks from hedge fund managers in Alpha’s version of the All-Europe Research Team.


Analysts at Deutsche Bank cut against the grain when they issued a high-conviction call in July 2013 urging investors to unload shares of British aircraft engine manufacturer Rolls-Royce Holdings, at 1,200.39 pence. Arguing that the company’s cash flow was poor and underlying costs were rising in its civil aerospace unit, the researchers forecast that the stock would tumble 15 percent, to 1,020 pence.

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