Industrials – Aerospace & Defense : First
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Industrials – Aerospace & Defense : First



Fidler & team

Deutsche Bank

"They provide great, long-range insights into the industry, from both a top-down and bottom-up perspective."

Reclaiming the top spot after a year in second place is the Deutsche Bank duo under London-based Benjamin Fidler, 42. The analysts, who monitor 11 companies, favor commercial aerospace stocks over the defense subsector, in light of frozen or shrinking defense budgets and rising aircraft demand. Back in December 2011 the team pounded the table on Germany's MTU Aero Engines Holding, dubbing the shares a bargain at €47.04, on the aircraft-engine maker's robust sales, particularly from the aerospace aftermarket, and French-Dutch European Aeronautic Defence and Space Co., at €21.44, owing to the popularity of its Airbus fleet in emerging markets. By the end of 2012, the shares had surged 46.3 percent and 37.6 percent, respectively. EADS remains a top pick for this year, while MTU is still rated buy but no longer considered cheap enough to be a favorite. "Ben's advantage, compared to other teams, is his analyst in France, Milène Kerner," asserts one New York–based fund manager. "Her close connection to companies on the continent makes all the difference." — Ben Mattlin

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