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尽管从第一个地方滴到第三，Holger Blum的德意志银行team of two (half the size of last year’s squad) maintains a loyal following: “They’re on top of all the Swiss sectors — pharmaceuticals, financials, watches and jewelry — with good sector forecasts and good stock picks,” as one money manager puts it. The analysts are bullish on Basel-based Dufry, which operates duty-free shops in airports, cruise ships and tourist locations. “We see strong growth prospects stemming from passenger growth, high passenger spending, price increases, concession growth and acquisitions,” says Blum, who co-leads (with Richard Parkes) the No. 1 team in Biotechnology and (with Yi-Dan Wang) the No. 2 team in Medical Technologies & Services. The team also likes Biel-based Swatch Group, the world’s largest watch company in terms of annual sales, on its “superior exposure to emerging markets, relative underpenetration in the U.S., strength of its brand portfolio, state-of-the-art manufacturing platform and industry leadership in components,” he explains.
-保罗·斯明 |
