The 2014 Latin America Research Team: Capital Goods, No. 3: Renata Faber & team
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The 2014 Latin America Research Team: Capital Goods, No. 3: Renata Faber & team

Renata Faber & team Itaú BBA First-place appearances: 1


Total appearances: 4


Team debut: 2011 Although Renata Faber and her Itaú BBA duo fall from first place to No. 3, clients continue to value their understanding of the sector. “Renata knows her companies very well,” one loyalist reports. The researchers have increased their coverage by one name over the past year, for a total of eight Latin American capital goods stocks, all of them in Brazil. Among these, one favorite is Iochpe-Maxion, which makes wheels and chassis for trucks and buses. With two thirds of the manufacturer’s revenues deriving from international operations, she explains, its “exposure to the external market” gives Iochpe-Maxion a hedge against domestic cyclicality. In addition, Faber notes, “there is room to improve margins as the company continues to capture the synergies between all the acquisitions announced in 2011.” Her team’s price objective of 26 reais implies a 47.3 percent upside to the stock’s value in late July. This year, Faber also leads a group that garners a runner-up position in Transportation.



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