Karen Kostanian
& team
Bank of America
Merrill Lynch
Bank of America Merrill Lynch repeats in second place, but this year the trio is led by newcomer Karen Kostanian, who also pilots the No. 1 team in Oil & Gas. Among the four companies the team covers, the Czech Republic’s CEZ, one of the largest electricity distributors in emerging Europe, is the current favorite. “We expect the impact from falling power prices to be more adequately priced into CEZ’s share price, without stretching its balance sheet to the same degree as its peers’ in developed Europe,” Kostanian explains. — Katie Gilbert