Technology, Media & Telecommunications – Telecommunications Equipment: First
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Technology, Media & Telecommunications – Telecommunications Equipment: First

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Pierre Ferragu

& team

Sanford C. Bernstein

"Pierre Ferragu is by far the best telecom equipment analyst on the planet."

The Sanford C. Bernstein threesome guided by Pierre Ferragu debuted as a runner-up in 2010, rocketed to first place the following year — and hasn't budged since. Ferragu, 38, makes "extraordinarily good stock calls," according to one satisfied client. In the fall of 2011, the team urged investors to ignore the hype surrounding Nokia Corp.'s then-imminent introduction of a smartphone based on U.S. behemoth Microsoft Corp.'s Windows platform; the analysts reiterated their underperform rating on the Finland-based mobile phone maker's shares throughout last year. Good call: The stock tumbled 22.3 percent in 2012 and trailed the sector by 8.1 percentage points. Ferragu "was right to stay away from Nokia, as he never believed the turnaround story," marvels one backer. Looking ahead, "2013 is the most uncertain year we've seen for some time in the industry," the team leader asserts. "For network equipment, operators mention a lot ambitious deployment plans and sustained capital expenditures, but the way mobile broadband will turn into profitable revenues and the impact of the evolution of the global economy on spending are still unclear." — Pam Baker


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