08-wb-lart-giovana-araujo.jpg
Giovana Araújo
& team
Itaú BBA
First-place appearances: 1

Total appearances: 5

Team debut: 2009

The Itaú BBA crew captained by Giovana Araújo rises one rung to claim its first appearance in the winner’s circle; the São Paulo–based analyst also co-directs (with Alexandre Miguel) a runner-up team in Food & Beverages. “Giovana has excellent knowledge about the sector both in terms of company-specific information and the macro drivers for the industry,” proclaims one buy-side supporter. “Her recommendations are timely, and she is a good stock picker.” Declining potash prices, rising competition in the lithium and iodine markets, and slowing sales of industrial chemicals are causing widespread underperformance in the sector, Araújo explains. One exception: top pick Adecoagro, a diversified agricultural company that is headquartered in Luxembourg and operates manufacturing and production facilities in Argentina, Brazil and Uruguay. “Most of the negatives related to regulatory risks in Argentina are already priced in,” she maintains. “We believe the stock is an attractive carry going forward, based on the prospects of strong earnings growth in 2013.” The two-member squad, which reports on seven stocks, is also becoming increasingly upbeat on Bunge, a global agricultural commodities processor based in White Plains, New York. “A record U.S. grain crop and the maintenance of strong farming economics in Brazil are positives for the company’s agribusiness segment,” she adds. Araújo, 39, holds a bachelor’s degree in economics from Brazil’s Universidade Federal da Bahia and an MBA from the University of São Paulo; she joined Itaú in 2007 from Datagro, a São Paulo–based agribusiness consulting firm. — Leslie Kramer