< The 2014 All-Europe Research Team
After two years as a runner-up, the Commerzbank Corporates & Markets team co-led by Gunnar Hamann and Andreas Hürkamp reclaims second place. From its headquarters in Frankfurt, the 28-member troupe follows 150 German stocks. One of the analysts’ favorites is Herzogenaurach-based Adidas, whose projected price-earnings ratios should remain attractive at least through this year, they contend. Its shares traded at €92.64 at the end of December, just 3.6 percent shy of their target price. The athletic footwear and apparel company is benefiting from escalated retail expansion, including a net increase of 165 stores over the first nine months of 2013; better sales at its Reebok unit (up 5.4 percent year-over-year at the end of September); and positive publicity from its sponsorship of the World Cup soccer championship this year in Brazil. Commerzbank’s researchers are “experienced across several industry sectors, with great relationships,” one money manager asserts, and “able to provide excellent background on the companies and the players.” |