Industries: Real Estate – Second
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Industries: Real Estate – Second

David Lawant & team Itaú BBA

The Itaú BBA trio under São Paulo–based David Lawant debuts in second place in this new sector. The researchers, who formally cover 20 companies, impress money managers by “tirelessly keeping track of every name in one of the region’s most crowded sectors,” as one appreciative investor puts it. In September 2011 they upgraded Brazil’s Multiplan Empreendimentos Imobiliários from market perform to outperform, at 34.23 reais. Simultaneously dubbing it a top pick, they reasoned that the Rio de Janeiro–based developer of commercial and residential properties was poised for earnings growth owing to numerous projects set to open in the next few years. By mid-July the stock had bolted 43.7 percent, to 49.20 reais, and pummeled the sector by 29.6 percentage points. — Ben Mattlin

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