< The 2014 All-Europe Research Team

Jochen Gehrke, Gaëtan Toulemonde & team
Deutsche Bank
First-place appearances: 0

Total appearances: 11

Team debut: 2001

Deutsche Bank leapfrogs from runner-up to land in second place and mark its best showing since 2005. Jochen Gehrke, who works out of Frankfurt, and Paris-based Gaëtan Toulemonde guide a trio that monitors 26 companies. These analysts are “hitting on all cylinders,” says one fund manager in New York who cites in particular their coverage of France’s Valeo. Deutsche’s team upgraded Valeo from hold to buy in February 2013, on valuation, and the auto-components developer’s stock had more than doubled by year’s end, reaching €80.43 and outdistancing the sector by 67.1 percentage points. Two German manufacturers have been among the researchers’ favorites since April. Incoming orders throughout the value chain were surprisingly strong, the analysts reported, prompting them to upgrade automaker Daimler and emission-controls supplier Norma Group from hold to buy. By late December, Daimler had traded up to €62.90, gaining 55 percent, and Norma had jumped 41.5 percent, to €36.08. During the same period the sector advanced 38.8 percent. The analysts continue to recommend both names, predicting further gains.