This content is from: Research

The 2014 Latin America Research Team: Transportation, No. 2: Bruno Savaris & team

Bruno Savaris & team Credit Suisse First-place appearances: 0

Total appearances: 8

Team debut: 2005

After a year’s 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 Paulo–based 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 Brazil’s 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.”


Related Content