< The 2014 All-Europe Research Team

Benjamin Kohnke, Uwe Schupp & team
Deutsche Bank
First-place appearances: 3

Total appearances: 7

Team debut: 2005

Deutsche Bank slips one notch to second place, ending its streak atop this roster at three years. Even so, the five-member team that Benjamin Kohnke and Uwe Schupp have jointly directed since last year merits praise for providing “excellent money-making calls and mind-leading, in-depth pieces,” in the words of one advocate. Although they are constructive on the market overall, the Frankfurt-based analysts believe that small- and midcap names “often offer more clear-cut investment cases compared to the often conglomeratelike big caps,” asserts Schupp. “Many German small- and midcaps are world leaders in their fields and offer investors a pure way to participate.” They are advising clients to invest in so-called self-help names, companies with margins that are expected to perform well even if weaker macroeconomic growth leads to top-line disappointment. Examples, according to Schupp, include two German names: Tipp24, a gaming outfit that provides Internet lottery services, which could experience a positive trigger once a long-awaited announcement about an extra dividend payout is made; and lighting manufacturer Osram Licht, a July spinoff from Siemens that is in the process of adjusting legacy capacities to a changing market focused on light-emitting-diode-based energy-efficient technologies.