Thiago Duarte＆Teambtg PactualFirst-Place外观：2总出现：5
团队首次亮相：2008年
蒂亚戈·杜阿特在这个阵容上引导他的BTG致命船员在这阵容上进行第二次连续第一，并与Rafael Shin联系，监督一支重复的队员食品和饮料上的第1号名册。在“拉丁美洲的农业企业名称”的报告中，这位31岁的研究员和他的队友带来了“出色的行业知识和伟大的分析”，一款货币经理观察。投资者还欢呼圣保罗的二重奏的股票挑选实力，并能够直接进入企业管理团队。The analysts dubbed Brazilian sugar and ethanol producer São Martinho a top pick in February 2014 and remain upbeat on the name, noting that the company’s performance is less dependent on sugar prices than in the past, its land bank offers hidden value, and its stock generates a compelling double-digit free-cash-flow yield. “Being the most cost-efficient player in the sector puts it at a privileged position even under weak sugar-ethanol prices,” explains Duarte. By the middle of last month, São Martinho’s stock had soared 43.6 percent, to 36.62 reais, besting the regional broad market by 36 percentage points. Duarte’s team believes that a price of 47 reais is justified. “We think ethanol producers are set to benefit from improving prices throughout the coming year, as ethanol becomes more competitive vis-à-vis gasoline in Brazil,” he says. “This could provide some midterm support to sugar prices.” The researchers are less enthusiastic about grain producers in 2015, however. “We’re cautious as prices continue to trend south, a reflection of mounting global inventories, while the regulatory framework on land ownership in Brazil still brings uncertainties that may keep investors away from the sector,” he concludes.