The 2014 All-Asia Research Team: Technology/IT Services & Software, No. 3: Nicolas Gaudois, Diviya Nagarajan & team
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The 2014 All-Asia Research Team: Technology/IT Services & Software, No. 3: Nicolas Gaudois, Diviya Nagarajan & team

Nicolas Gaudois, Diviya Nagarajan & team UBS First-place appearances: 1


Total appearances: 7


Team debut: 2000 After a six-year absence, UBS returns to this lineup in the No. 3 position, notching its strongest showing since 2005. Under the guidance of Nicolas Gaudois and Diviya Nagarajan, the Hong Kong–based crew holds a sanguine outlook on Asia’s information technology software and services companies, whose shares bested the broader regional market by 71.2 percentage points over the 12 months through late April, bolting 75 percent. The researchers’ checks and third-party research suggest an increase in outsourcing budgets this year. In the long term, they believe, factors such as the increased penetration of infrastructure services are likely to offer strong growth potential. India’s Tata Consultancy Services remains their top pick. “It has the best product positioning across all verticals in the IT industry, in our view,” Gaudois observes. “Its execution is excellent, and the management is very strong.” The UBS squad assigns Tata a buy rating and a price target of 2,730 rupees, which implies a premium of 23.8 percent to the stock’s late April value. Gaudois also co-heads, with Jonah Cheng, the No. 2 group in Technology/Semiconductors; and with Arthur Hsieh he directs the third-place troupe in Technology/Hardware. Nagarajan “helps cut through the noise and focuses on fundamentals,” one advocate relates. “She has consistently been ahead of the Street in identifying key long-term trends.”



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