2015 All-Latin America Research Team: Technology, Media & Telecommunications, No. 2: Andrew Campbell & team
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2015 All-Latin America Research Team: Technology, Media & Telecommunications, No. 2: Andrew Campbell & team

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< The 2015 Latin America Research Team

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Andrew Campbell & teamCredit SuisseFirst-place appearances: 3


Total appearances: 19


Team debut: 1996Andrew Campbell, 45, shepherds his three-member Credit Suisse team from runner-up to second place, marking the firm’s best showing on this lineup since 2010. He also co-captains, with Alonso Cervera, a group that claims a runner-up position for its coverage of Mexico. Indeed, one fund manager observes, Campbell and his colleagues “are very successful and accurate in their calls on Mexican companies.” Regarding Latin America’s technology, media and telecommunications players overall, the São Paulo–based team leader says, his researchers are circumspect on the telecoms, in general, believing that “the sweet spots are related to software and media.” They prefer two leading Brazilian enterprise software developers, Linx and Totvs. “We think software should hold up well in the tough Brazilian macro environment because of sticky revenues, inflation adjustments to revenues, strong net cash positions and healthy cash generation,” explains Campbell. Two dominant Mexico-headquartered names are their favorite plays in the media space: the nation’s largest mass media company, Grupo Televisa, and its No. 1 cable television services provider, Megacable Holdings. “We are seeing cable operations gaining momentum from stronger sales of broadband services,” he advises, “which are also helped by a healthier macro backdrop in Mexico.”



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