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Countries – North Andean Countries: First
BTG Pactual’s ten-member troop under Alonso Aramburú and César Pérez-Novoa repeats at the top of the roster.
BTG Pactual’s ten-member troop underAlonso AramburúandCésar Pérez-Novoarepeats at the top of the roster; the 41-year-olds, who work out of New York and Santiago, respectively, also oversee the team that captures second place for coverage of Chile. In December the analysts launched coverage on Cementos Pacasmayo with a buy recommendation on the American depositary receipts, at $12.76, citing the Lima, Peru–based cement company’s cost-cutting initiatives and strong growth prospects, among other considerations. The ADRs climbed to $15.10 in May before starting to fall; by mid-July they were down to $12.03, but the team continues to recommend them, owing to “the strong construction environment in Peru,” Aramburú explains. In April the researchers began reporting on Grupo Nutresa, praising the Medellín, Colombia–based food processor’s diversified product portfolio and dominant market position. The stock, then at 25,120 pesos, rose to 26,580 pesos in May, then slipped to 22,900 pesos in mid-July — but the crew is maintaining its buy rating, with a target price of 29,200 pesos. “They get out of their offices and really experience the economies at the ground level,” notes one buy-side backer. —Paul Sweeney |
