Susana Salaru Itaú BBA First-place appearances: 0

Total appearances: 2

Team debut: 2013 Repeating in second place on this list is Susana Salaru at Itaú BBA, who is based in São Paulo and tracks five Brazilian technology, media and telecommunications players. The government’s sale of fourth-generation wireless airwaves, scheduled for September, is “the single most important event for the sector this year,” Salaru says, and “may be seen as a way for the government to help fund its primary surplus. The minimum price will likely be high, given that this will be the first naked auction — meaning, no minimum coverage requirements involved.” All four of the industry’s major players are likely to participate, and she expects the Brazilian Development Bank to extend credit lines to the winners to help finance the 4G licenses. Against this backdrop, the analyst notes, “tech stocks are being sought by investors looking for a defensive alternative in this year’s less-favorable top-down scenario.” Two such companies that she forecasts will continue to deliver robust and sustained top-line growth are São Paulo–based software providers Linx and Totvs.