Industries – Retailing: Third

The J.P. Morgan trio guided by Andrea Teixeira drops from first place to third but maintains an avid following for “knowing the companies well and knowing what questions to ask,” according to one buy-side loyalist. Teixeira, who debuted as crew captain in 2008 and also oversees the No. 3 team in Health Care, and her associates are generally cautious, owing to “a decline in discretionary demand in Brazil and deceleration in sales throughout the region,” the New York–based leader says. They are urging clients to focus on such defensive names as Brazil-based multiline retailers Cía. Brasileira de Distribuição and Lojas Americanas. The researchers continue to sing the praises of Chile’s S.A.C.I. Falabella, which they upgraded from neutral to overweight in January 2012, on valuation and the department store operator’s strong growth prospects. In the 12 months through mid-July, the stock surged 18.6 percent, from 4,488.80 pesos to 5,321.60 pesos, and led the sector by 4.6 percentage points. — Pam Baker