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The 2014 All-America Research Team: Gaming & Lodging, No. 3: Carlo Santarelli
Total Appearances: 3
Analyst Debut: 2012
Holding on to the No. 3 slot on this roster is Deutsche Bank Securities’Carlo Santarelli, whom one fund manager praises as “willing to take a risk and make an unpopular call.” The researcher continues to favor Wynn Resorts. He restated his buy rating on the Las Vegas–based casino developer in June 2013, insisting that although the shares had fallen 36.5 percent year to date, largely on weakness in its Macau properties, they were oversold and primed to rally — and he was right. By the middle of last month, Wynn had roared back to $180.72, rising 49.3 percent and beating the sector by 33.9 percentage points. Santarelli actively tracks 35 U.S. gaming and lodging names, four more than a year ago, and remains bullish on Wynn, citing in part anticipated benefits from the Cotai casino it plans to open in 2016, with a target price of $265. “His modeling is rigorous and cuts through the noise,” attests another booster.
RUNNER(S)-UP
Robin Farley
UBS