Vinicius Canheu Credit Suisse First-place appearances: 1

Total appearances: 5

Team debut: 2010 Claiming the No. 2 position for a second year running is Credit Suisse’s Vinicius Canheu, who also earns a runner-up spot in Chemicals & Oil. He reports on 16 domestic utilities from São Paulo and earns investor praise for his “good sense of timing,” as one portfolio manager puts it, and his coverage of Rio de Janeiro electricity provider Light in particular. Canheu upgraded the stock from neutral to outperform in July 2013 because “the market was overly pessimistic about the company’s tariff review,” he recalls, referring to Light’s impending price reappraisal by the Brazilian government. Although the electricity regulator indicated in August’s preliminary findings that it might require Light to cut household rates by up to 3.3 percent, in November it allowed the company to raise them by as much as 3.7 percent. By the end of the following July, the stock had jumped 38.3 percent, to 21.30 reais, outdistancing its peers by 29.9 percentage points. Canheu continues to recommend it, assigning a price target of 24 reais. The electricity distribution subsector, he says, “still provides room for positive surprises for investors.”