Marcos Severine & team Itaú BBA

Slipping one rung to third place is Itaú BBA’s threesome directed by São Paulo–based Marcos Severine. Praised for “high-quality fundamental analysis,” in the words of one investor, the team garners kudos for a March downgrade of Eletropaulo Metropolitana – Eletricidade de São Paulo from outperform all the way to underperform, at 33.65 reais, in anticipation that the government would slash tariffs on electricity providers to help curb inflation. They were right: In early July regulators reduced Eletropaulo’s rates by 9.2 percent, and by the middle of that month, the shares had plunged 39.4 percent, to 20.39 reais, and trailed the sector by 36.2 percentage points. — Ben Mattlin

RUNNER(S)-UP
Marcelo Britto & team Citi Felipe Leal & team Bank of America Merrill Lynch
Felipe Mattar & team Goldman, Sachs & Co.
Márcio Prado & team Santander