Economics & Strategy – Middle East & North Africa Equity Strategy: Second

Aleksandar Stojanovski shepherds Deutsche Bank’s team of five up one rung to second place; the Dubai-based analyst also co-leads, with Bob Kommers, a runner-up crew in Chemicals. The researchers report on 82 companies — up from 65 a year ago — and clients appreciate the breadth of coverage. “Sometimes they’re the only brokerage providing us with recommendations on a stock,” says one. “They also make out-of-consensus calls that have worked for us more often than not.” Qatar-based Gulf International Services is among the team’s top picks. The oil and gas services provider has strong growth prospects and is paying a generous 5 percent dividend yield, Stojanovski reports, yet at 11 times earnings before interest, taxes, depreciation and amortization, its stock is selling at a 40 percent discount to its international peers. Although the shares bolted 49.6 percent year-to-date through May, “favorable trends for the offshore rigs business mean that there is room for profitability to increase further,” he adds. Also recommended: Saudi Telecom Co., primarily on rising revenue from its broadband services. — Paul Sweeney