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The 2016 All-Europe Research Team: Building & Construction, No. 3: Gregor Kuglitsch & team

Retaining the No. 3 position on this roster is the London-based UBS duo overseen by Gregor Kuglitsch, 30.

Gregor Kuglitsch & team
UBS
First-place appearances: 18

Total appearances: 68

Team debut: 1986

Retaining the No. 3 position on this roster is the London-based UBS duo overseen by Gregor Kuglitsch, 30. In January 2015 the analysts lowered their rating on Switzerland’s Holcim from buy to neutral. Any optimism about the cement provider’s proposed merger with French rival Lafarge was countered by their belief that the stock was overvalued. The deal closed in July, and by mid-January shares of the combined LafargeHolcim had tumbled 26.9 percent since their downgrade, to €41.96. During the same period, the regional broad market dropped 8.9 percent. For the year ahead, of the 25 European building and construction companies on which the group reports, one favorite is Berkeley Group Holdings, which boasts a strong cash flow and rising dividend yield, the researchers advise. Holding a buy rating for many years, shares of the U.K.-based residential and commercial property developer surged 58.4 percent during the 12 months through mid-January, to 3,510p — outperforming Europe’s shares overall by 64.3 percentage points — and could climb as high as 4,150p in the next 12 months, they contend. “Gregor has been helpful in my stock-selection process,” one investor offers.


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