|Flavio Cereda, Raffaella Tenconi & team|
|Bank of America Merrill Lynch|
|First-place appearances: 0|
Total appearances: 1
Team debut: 2014
Flavio Cereda, who focuses on small- and midcap stocks, and strategist Raffaella Tenconi form the nucleus of the London-based Bank of America Merrill Lynch team that debuts in second place. To cover 34 Italian stocks, the newcomers collaborate with ten European sector analysts. They remain bullish on Milan-based UniCredit, whose stock has been mostly on the rise since April 2013. Trading at 5.38 at the end of December, it could reach 6.30 in the near term, the group contends. The money center banks earnings are well below their long-term potential, the analysts believe, and the company is poised to benefit from both an expected macroeconomic turnaround in Italy and a successful implementation of a European banking union. Milans Yoox is also a favorite, Cereda says. Recommended as a buy since June 2011, the global Internet retailer for luxury and fashion brands still enjoys very significant growth potential, he notes, given its unique role as a one-stop shop, which should facilitate attracting more high-end names into its fold. Trading at 32.60 at year-end 2013, the stock has a price objective is 34. One money manager says of the BofA Merrill crew: I always appreciate their high-quality research and responsiveness to my requests.