Rodrigo Góes & team BTG Pactual
The buy side says: “Rodrigo is up to date and well informed on all the companies.”
The São Paulo–based team helmed by BTG Pactual’s Rodrigo Góes debuts in first place in this newly stand-alone sector, which we created by dividing Aerospace, Transportation & Industrials into Capital Goods and Transportation. (Góes led the No. 2 team in the broader sector last year and the No. 1 team from 2005 through 2009.) The 38-year-old has “the most in-depth understanding of the sector,” declares one client. Others highlight the trio’s December 2009 relaunch of coverage on Santos Brasil Participações with a buy, at 14.95 reais, on its rising cash flow. “The stock was largely forgotten and disliked,” recalls one investor. “Rodrigo turned positive on it way before his peers, and it’s done extremely well ever since.” Indeed: Through July 2011 shares of the São Paulo–based shipping-terminal operator steamed ahead 79.9 percent, to R26.90, and sailed past the sector by 74.8 percentage points. In December the analysts downgraded Multiplus, the São Paulo–based administrator of Tam Linhas Aéreas’s frequent-flier program, from buy to neutral, at R29.57, on valuation. In March, after the stock had slid 17.5 percent, to R24.39, they upgraded it to buy. It ended July up 10.2 percent, at R26.88.
