SECOND TEAM
Bernd Stahli & team BofA Merrill Lynch Global Research
In second place for a second consecutive year is the BofA Merrill Lynch Global Research team captained by Bernd Stahli. Investors applaud the two-man crew’s “thoughtful and insightful research” and “breadth of coverage.” In October the analysts downgraded Derwent London to neutral, at 1,586p, after shares of the U.K.-based real estate investment trust had climbed 20.6 percent since January, when the duo first told clients to buy them. In November, with the stock down 9.5 percent, to 1,435p, they upgraded it again to buy, on valuation. It had risen 8.8 percent, to 1,561p, by the end of the year.