Andreas Willi & team, J.P. Morgan Cazenove
The buy side says: “Their breadth of knowledge and insights make them the best.”
On top for a second straight year — and for the third time in four years — is the J.P. Morgan Cazenove threesome headed by Andreas Willi. The analyst, who turns 41 this month, has an “excellent understanding of big-picture issues and a microscopic knowledge of companies,” insists one ally. His London-based team, which covers 41 stocks, slashed earnings estimates and targets in the mechanical-engineering subsector in July after its proprietary survey found “a significant step down in outlook.” The analysts reiterated their underweight on Sweden’s Assa Abloy, at 166.20 Swedish kronor, based on declining growth in construction projects. In September, after the stock had slid 15.3 percent, to Skr140.80 (but still beat the broad market by 4.2 percentage points), they moved it back to neutral, on valuation. By year’s end it had surged 22.6 percent, to Skr172.60, while the sector gained just 8.8 percent. “Andreas is a best-in-class analyst — hugely respected in the market,” notes one backer.
