2016全亚洲研究团队:澳大利亚/新西兰，第一名:Lourens Pirenc & Team

摩根士丹利(Morgan Stanley)连续第二年蝉联冠军，这也是自2010年以来的第五次。悉尼Lourens Pirenc现年43岁的他负责监管该公司的澳大利亚/新西兰股票研究，带领25名研究人员对约180名投资者进行了报告。一位仰慕者表示，这些常驻墨尔本和悉尼的分析师“善于及早发现市场趋势”。投资者特别提到，该团队对总部位于新南威尔士州的日用消费品零售巨头沃尔沃斯(Woolworths)一直持怀疑态度。2015年1月，研究人员强调了他们对该股28.57澳元的减持评级，指出消费周期放缓、新西兰竞争加剧、货币疲软和税收上升等压力可能影响盈利。果然不出所料，沃尔沃斯管理层随后公布，截至6月份的财年，沃尔沃斯的年度净利润下降了12.5%，至21.5亿澳元(合16.4亿美元)，随后两个季度同比下降了176%，导致税后亏损9.727亿澳元。截至4月底，该公司股价已暴跌24%，至21.72澳元，落后于该地区大盘17.7个百分点。Pirenc和他的同事预计，澳元将进一步下跌至17澳元。“他们不怕持有负面或反向的观点，”另一位基金经理表示。总体而言，摩根士丹利集团预计，中国将从国内业务转向有针对性的海外扩张，以及其他一些运营上的转变。在这个主题上，达美乐披萨企业仍然是最受欢迎的。 Since launching coverage on the Queensland-based fast food chain operator and franchisor in April 2010, the analysts have recommended overweighting the stock, then trading at A$4.41. They cited leadership’s success in expanding Domino’s footprint in Europe — where it maintained operations in Belgium, France and the Netherlands — and continue to tout the company’s growth in that region and in Asian markets. It has, for instance, secured its positions in both Japan and Germany and is well positioned to deliver “significant earnings growth over five years,” says Pirenc, with offshore revenue poised to triple in five to ten years. Domino’s shares were trading at A$61.97 late last month, up 75.4 percent over the trailing 12 months and ahead of their regional peers by 91.3 percentage points. Over the life of the call, the stock has far outperformed Asia ex-Japan names overall, which delivered a 7.3 percent gain. They assign it a 12-month price objective of A$70.