2015年全美研究团队：食品，第3号：Eric Katzman

连续第二年的第3年是埃里克卡茨曼德意志银行证券。他是美国食品公司中立的，犹豫不决，以确定预测本集团中的表现者的模式，该模式在9月中旬的12个月内推出8.4％，以11百分点达到11个百分点。“There hasn’t been a common theme among winning subsectors — those companies that are in the midst of strategic change or where the market is convinced there will be such change are the areas of outperformance,” says Katzman, 51. “At this point, we are advising our clients to be cautious, given still-poor fundamentals versus M&A-influenced valuations.” In January he nudged his rating on Pennsylvania-based confectioner Hershey Co. from buy to hold, citing concerns over management’s plans for international expansion, as well as Canadian currency headwinds and high-end chocolate’s growing share in the U.S. market. As of mid-September the stock had fallen 15.1 percent, to $92.46, and trailed its peers by 17.1 percentage points. The Deutsche researcher believes that a price of $95 is reasonable. “Eric understands where consensus is, but if you read his research in detail, you find that he is objective and guides the investors with highly independent and logical thinking,” marvels on fund manager.