< The 2016 All-Europe Research Team
Jarrod Castle, Dominic Edridge & team
UBS
First-place appearances: 17
Total appearances: 45
Team debut: 1986
As they have done every year since 2014, Jarrod Castle, 43, and Dominic Edridge, 40, shepherd UBS’s European transportation troupe to third place. Castle also oversee a squad that merits a runner-up position on the Leisure & Hotels lineup. The three researchers covering this space work out of London and monitor 28 companies. “Their strong suit is their analysis of supply-demand dynamics in the airlines,” one money manager offers. For the past 18 months, Irish budget carrier Ryanair Holdings has been among the team’s buy-rated names. Upgraded from neutral in July 2014, on valuation, the stock had doubled in value by the middle of last month, soaring to €14.40. During the same period, the regional sector slipped 4.3 percent. Looking ahead, the researchers also are optimistic about the prospects for Spanish airports operator Aena. They began reporting on the company in September with a recommendation that clients buy the shares, citing in part the recovering Spanish economy but also pointing to Aena’s improved balance sheet and credit rating. Although the price was little changed in mid-January, at €98.74, UBS’s crew forecasts an increase to €120 over a 12-month horizon.