Total appearances: 8
Team debut: 2005
After a years absence, Credit Suisse returns to this lineup in second place, its best showing since 2007. Bruno Savaris has led the team since 2012, and this year his São Paulobased pair also claims the No. 2 position in Capital Goods. The analysts track a dozen Latin American transportation companies, winning plaudits for providing coverage [that] is both broad and deep, as one money manager says. In June 2013 they added Brazils Smiles to their sector portfolio with an outperform rating. A manager of frequent-flier programs for several airlines, Smiles was gaining market share and had positive operating momentum, the researchers reasoned. By late July 2014, Smiles had soared 57.6 percent, to 39.40 reais, beating its regional peers by 61.8 percentage points. Regarding the sector overall, Savaris says, the next 12 months should still be favorable for [those] with earnings resilience, regardless of valuation levels.