< The 2014 All-Europe Research Team
Total Appearances: 29
Team Debut: 1992 Deutsche Bank dominates the lineup for a remarkable 18th consecutive year. Andreas Neubauer’s Frankfurt-based roster of 18 analysts tracks 148 companies, 14 more than last year. “They’re really good at bringing you new ideas,” reports one loyalist. “Many of the midcaps have been restructuring, and it’s been quite helpful to have them giving both the local and global view.” One midsize name that earns the squad’s favor is women’s clothier Gerry Weber International, thanks in part to the Halle-based company’s successful collections and increased international exposure. Despite recent faltering, “ten years of strong performance outweighs three quarters of weak performance,” the 49-year-old team leader declares. An expected consumer comeback in the retailer’s home market, which accounts for some 60 percent of sales, and “promising expansion plans,” he adds, will buoy its already solid balance sheet. The researchers’ target of €35 for Gerry Weber’s shares represents a 13.4 percent premium to the price at year-end 2013. Deutsche’s crew also continues to tout perennial favorite Volkswagen, which “has proven to have one of the most successful business models in the car industry,” Neubauer insists. Wolfsburg-based VW’s “third-quarter free cash flow of €3.2 billion [$4.3 billion] was a strong upside surprise,” he notes, scoffing at news accounts of potential cost overruns and pricing pressures for the VW brand. The researchers cite sales momentum in China, which contributes some 43 percent to VW’s overall earnings per share, and expectations of strong performance for Audi in the premium auto market in pegging the shares at €220; they traded at €196.90 in late December.
See also Andreas Neubauer's profile in the 2013 All-Europe Research Team and 2012 All-Europe Research Team.
