Saul Martinez＆Team J.p.摩根第一次出场：4总出现：23
团队首次亮相：1993年
在领导下扫罗马丁内斯，J.P. Morgan的四个强队保留了该名册上的1号。“由于他强大的基本观点和市场时机，”扫罗是销售方面最令人印象深刻的分析师之一，“一位投资者说。“很少有人对市场的深刻了解和如此伟大的企业关系。”来自纽约和圣保罗的基地，分析师涵盖了26个区域银行股。该集团在7月底，迄今为止，迄今为止，拉丁美洲的新兴市场表现优于拉丁美洲的新兴市场，而马丁内斯迅速解释了强烈的表现。“驾驶这一点有一组因素，”他说，“包括在Itaúunibanco [控股]，Bancobradesco，Banco Santander-智利和信贷博士以及对巴西和阿根廷的政治变革的乐观效果阿根廷银行到目前为止最佳表演者。“事实上，截至7月底，国家的银行业股在2014年飙升了60.4％。这位40岁的团队领导人补充说，一些名字在一年中出现过度折扣估值，比如Bancolombia和Santander-智利。展望未来，马丁内斯和他的同事建议投资者在该部门方面选择性。“我们看到大多数银行的众多上行有限，在大多数情况下，不要考虑提供足够的估价。” The researchers prefer high-quality banks with good earnings momentum and reasonable valuations. Their sole overweight picks are Peruvian commercial bank Credicorp; Itaú Unibanco of Brazil, which is the region’s largest financial institution; and Santander-Chile. J.P. Morgan’s positive outlook on Santander-Chile is an out of consensus view given economic headwinds in Chile, notes Martinez, but his group believes that earnings estimates are far too low for that country’s largest bank, by assets. “We are about 10 percent above consensus,” he adds, “and we feel our 2014 earnings estimates might be conservative.” The analysts expect Santander-Chile to report over 30 percent earnings growth in 2014. “At about 14 times 2014 earnings, which have an upside bias, we see the valuation as attractive,” he concludes.