Susana Salaru
Itaú BBA
First-place appearances: 0

Total appearances: 1

Team debut: 2013

Itaú BBA’s Susana Salaru debuts in the No. 2 spot. The São Paulo–based researcher, who covers five stocks, is “one of my favorite analysts because of her great access to top managements and her extensive network of contacts,” proclaims one money manager. Others praise Salaru for her boldness in stating that concerns about the impact of new broadband regulations imposed by industry regulator Agência Nacional de Telecomunicações, better known as Anatel, were exaggerated. “While the market was incorrectly pricing risks and predicting very slow revenue growth, Salaru was predicting the risks would cool down and that growth in 2012 wouldn’t be that bad,” recalls one client. “She nailed it.” Looking ahead, the analyst is upbeat. The highly competitive market may be reaching “a level of rational rivalry,” she says. “We believe also that a more constructive dialogue with the regulators should add to a more supportive environment for companies.” Her top pick is São Paulo–based telecommunications services provider Telefônica Brasil, whose stock was selling at 41.50 reais in mid-July. Salaru’s target price is 59 reais. — Pam Baker