Ronald Köhler & team
MainFirst Bank
Despite dropping from second place to third, the MainFirst Bank team of nine under Ronald Köhler continues to earn accolades for a “bottom-up analytical style” that enables the researchers “to find undiscovered gems and explain how the companies fit both locally and globally,” according to one satisfied client. Reporting on 71 German stocks from offices in Frankfurt, the analysts believe that “cyclical names should outperform in 2013, driven by stabilization in the European Union,” Köhler says. HeidelbergCement is a particular favorite, owing to the building-materials manufacturer’s strong growth, especially in emerging markets in Africa and Southeast Asia; efforts to control costs; and attractive valuation (the stock is trading at a 20 percent discount to its peers, the team leader notes). Shares of the Heidelberg-based concern stood at €45.86 in late December, and the group has set a target price of €55.
— Paul Sweeney