The 2014 All-Brazil Research Team: Transportation, No. 3: Renato Mimica

Renato Mimica BTG Pactual First-place appearances: 0

Total appearances: 2

Team debut: 2013 BTG Pactual’s Renato Mimica notched his first appearance on this lineup as a runner-up in 2013, and this year he steps up to third place. Working out of São Paulo, Mimica tracks nine Brazilian transportation names and an additional six in Capital Goods, where he claims the No. 2 spot. His long-standing buy rating on Gol Linhas Aéreas Inteligentes has proved wise. The São Paulo–based low-fare domestic carrier boasts a strong balance sheet and robust revenue growth mixed with capacity cuts, the analyst has maintained, and the shares have performed very well. They rocketed 75.6 percent over the 12 months through July, to 13.73 reais, against the sector’s 1.3 percent decline. Judged “honest and independent-thinking,” in the words of one client, Mimica maintains a general caution going forward, though he makes another exception for EcoRodovias Infraestrutura e Logística, a tollbooth operator headquartered in São Paulo. He reinstated coverage of the stock in January with a buy rating, at 12.76 reais, crediting the company’s pipeline of new projects. By the end of July, EcoRodovias had climbed to 13.70 reais, and Mimica projects a rise to 17 reais.

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