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The 2014 All-Asia Research Team: Thailand, No. 1: Daniel Fineman & team

Daniel Fineman
& team
Credit Suisse
First-Place Appearances: 6

Total Appearances: 13

Team Debut: 1994

Credit Suisse recaptures first place on this roster after a year at No. 2, notching its sixth top finish since 2005. Directed by Daniel Fineman, 51, the ten-strong squad — half in Bangkok and the rest in Hong Kong and Singapore — tracks 55 Thai names, nine more than a year ago. These analysts, one asset manager reports, provide “top-notch coverage based on excellent corporate relationships.” Their June 2011 upgrade of Bangkok-based Total Access Communication from neutral to outperform continues to earn clients’ praise — and has really paid off. At the time, Fineman and his group dubbed the telecommunications carrier and cellphone provider’s stock a bargain at 58 baht, and they have consistently restated their bullish view. For example, throughout last year they advised investors that lower regulatory fees would not spark undue competition, and they were right. Over the 12 months through late April, TAC’s shares climbed 9 percent, to 121 baht, even as Thailand’s broad market fell by 9.2 percent. The researchers foresee continued outperformance, crediting the company’s earnings momentum and forecasting that it will acquire additional bandwidth. Their price target for the stock is 140 baht. Overall, however, the Credit Suisse team is cautious going forward. “Market upside is limited now,” says Fineman. “Liquidity rather than fundamentals is driving shares higher. I’m not superkeen on any names.”

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