Coverage
- Company
- Country
- Alba
- Spain
- Alfa SAB de CV
- Mexico
- Alpargatas SA
- Brazil
- America Movil
- Mexico
- Antarchile
- Chile
- Arco Platform
- Brazil
- Arcos Dorados
- Argentina
- Arezzo Industria e Comercio SA
- Brazil
- ASUR
- Mexico
- Atento
- Spain
Diário
- Date
- Company
- 2021-01-18
- Carrefour Brasil, Femsa, Localiza, Copec, Unidas
- 2021-01-15
- Banregio, Simpar, Ultrapar, Petz, Stone
- 2021-01-14
- Sonae , Banco do Brasil, Corporación América Airports, CCU
- 2021-01-13
- Telefonica, Femsa, GALP, Jeronimo Martins, Ultrapar
- 2021-01-12
- CIE Automotive, Grupo Mateus, Nemak SA de CV, KUO, GALP
- 2021-01-11
- Simpar, Concha y Toro, Movida
- 2021-01-08
- MercadoLibre, Cosan Ltd, Tenaris, Bradespar, Petrobras, Quinenco, GeoPark, Vasta
- 2021-01-07
- Localiza, OMA, GP Investments, Itausa, Duratex
- 2021-01-06
- Vostok, Banorte, Vista Oil, Liverpool , Copec, LiLAC
- 2021-01-05
- Grupo Argos, Grendene SA, MercadoLibre, BR Distribuidora, Itausa
Company research notes
- Date
- Company
- Title
- 2021-01-14
- Petz
- Initiation | A play on anthropomorphism
- 2021-01-14
- Regional SAB de CV
- Regional | Solid credit performance | P$5bn excess capital
- 2021-01-11
- Grupo Mateus
- Initiation | Northern champion
- 2021-01-06
- Vista Oil & Gas
- Vista Oil | Operational strength | 55% discount to NAV
- 2020-12-21
- Vostok
- VEF | Creditas raises US$255m at US$1.75bn valuation
- 2020-12-21
- CSAV, Quinenco
- Quiñenco’s market value < HLAG stake
- 2020-12-15
- Ultrapar
- Time to unlock Oxiteno’s hidden value
- 2020-12-10
- ILC
- “Free” healthcare assets in Chile
- 2020-12-08
- Stone, Cielo, PagSeguro, Banco Santander, Banco Santander Brasil, Getnet
- Brazilian Payments | Getnet
- 2020-12-07
- Alfa
- Nemak spinoff | the 1st step on the road
Nau Preferencia
- Date
- Title
- 2021-01-18
- Small & Midcap Compendium | January 2021
- 2021-01-11
- Latin American stock ideas | January 2021
- 2020-12-15
- Small & Midcap Compendium | December 2020
- 2020-11-16
- Small & Midcap Compendium | November 2020
- 2020-10-16
- Small & Midcap Compendium | October 2020
- 2020-09-15
- Small & Midcap Compendium | September 2020
- 2020-08-24
- Small & Midcap Compendium | August 2020
- 2020-07-15
- Latin America | Small & Midcap Compendium | July 2020
- 2020-06-15
- Latin America | Small & Midcap Compendium | June 2020
- 2020-05-18
- Small & Midcap Compendium | May 2020
Latam Banks
- Date
- Company
- Title
- 2020-12-11
- Itau, Banco do Brasil, Banco Santander Brasil, Bradesco
- Brazilian Banks | PIX | Extraordinary early traction
- 2020-12-02
- Bradesco, Porto Seguro, Banco do Brasil, Banco Santander Brasil, Itau
- Latam Fintech | Nubank to sell life insurance in Brazil
- 2020-11-26
- Credicorp, IFS
- Peruvian Banks | Proposal to extend Reactiva maturities
- 2020-11-03
- IFS, Credicorp
- Peruvian Banks | A closer look at rate caps & credit quality
- 2020-10-16
- Bancolombia, Davivienda
- Latin American Banks | RappiPay doubles the stakes in Colombia
- 2020-10-15
- Bradesco, Banco Santander Brasil, Banco do Brasil, MercadoLibre, Itau
- Brazilian Banks | PIX | High adoption at disrupters
- 2020-10-08
- IFS, Credicorp
- Peruvian Banks | Interest rate caps on the table now
- 2020-10-06
- IFS, Credicorp
- Peruvian Banks | Regulation | Banks save the first match-ball
- 2020-10-01
- Bradesco, Itau, Bancolombia, Banco Santander Brasil, Banco do Brasil
- Latam Banks | Nubank launches in Colombia | First thoughts
- 2020-09-23
- Banco Santander Mexico, Banregio, Banorte
- Mexican Banks | Positive news from Mexico’s largest bank
Latam Infrastructure
- Date
- Company
- Title
- 2020-07-05
- Sanepar, Copasa, Sabesp
- Brazil water | A scale opportunity | Sector initiation
- 2020-06-12
- GAP, ASUR, OMA
- Mexican airports | Almost 3 years to full traffic recovery
- 2020-05-27
- Localiza, Unidas, Movida
- Brazilian car rental | Powerful, structural forces remain
- 2020-03-17
- Santos Brasil, Wilson, Sons , SM SAAM
- Latin American Ports | Company meeting notes
- 2020-01-07
- Unidas, Movida, Localiza
- Brazilian car rental | Growing pains in global mobility
- 2019-11-13
- Fibra Macquarie, Fibra Uno, Vesta, Terrafina
- The Mexican real estate sector | Vesta and F. Macquarie raised to Buy
- 2019-10-18
- Movida, Unidas, Localiza
- Brazilian car rental | Potential disruptors also in used cars
- 2019-10-02
- Movida, Localiza
- Brazilian car rental | Lawmakers turn their attention to RAC
- 2019-08-14
- OMA, ASUR, GAP
- Mexican airports | Traffic vs risk-free rate
- 2019-06-25
- Cementos Argos, Cemex, Cemex Latam
- Colombian cement | Recovery fully priced-in
Latam Energy
- Date
- Company
- Title
- 2020-11-16
- Cosan , BR Distribuidora, Ultrapar
- Brazil fuel retail | The twisting road post 3Q results
- 2020-08-05
- Petrobras
- BP agenda reset | Latin America energy implications
- 2020-06-03
- Cosan , BR Distribuidora, Ultrapar
- Brazil fuel retail | All eyes on lockdown lifting
- 2020-05-19
- GeoPark
- Colombian E&Ps | Rolling the barrels
- 2020-05-04
- GeoPark, Vista Oil & Gas, GALP, Petrobras
- Latin American oil sector | Where now?
- 2020-04-02
- Cosan , BR Distribuidora, Ultrapar
- Brazil fuel retail | Volume impact of asymmetric lockdown
- 2020-02-05
- Cosan , BR Distribuidora, Ultrapar
- Brazil fuel retail - Fight for market share intensifies
- 2020-02-03
- GeoPark
- Colombian E&Ps | still plenty in the tank
- 2019-12-10
- Tullow Oil
- What’s next for Tullow Oil?
- 2019-10-07
- Ultrapar, BR Distribuidora, Cosan
- Brazilian fuel retailing | the Battle is on
Latam TMT
- Date
- Company
- Title
- 2020-12-15
- TIM Brasil, America Movil, Vivo, Oi
- Brazilian Telecoms | Consolidation to a three player market
- 2020-10-08
- B2W, MercadoLibre
- Read-across from the Allegro IPO
- 2020-08-28
- MercadoLibre, PagSeguro
- Ant Payments
- 2020-08-04
- Telefonica, Telesites
- Emerging Markets Towers Primer
- 2020-07-23
- Oi, TIM Brasil, Vivo, America Movil
- Brazilian Telecoms | Highline enters negotiations with Oi
- 2020-06-24
- Cielo, PagSeguro, MercadoLibre, Stone
- WhatsApp payments suspended
- 2020-06-22
- Cielo, PagSeguro, MercadoLibre, Stone
- Brazilian payments | Evolution of the payments landscape
- 2020-02-03
- LiLAC, Entel, Vivo, Telefonica, America Movil, TIM Brasil
- Consolidation | quest for higher returns
- 2019-12-16
- Via Varejo, Magazine Luiza, MercadoLibre, B2W
- Brazilian e-commerce | The long term prize for the winners
- 2019-11-20
- Entel, LiLAC, Telecom Argentina, America Movil, Telefonica
- Telefonica asset sales could drive a wave of sector consolidation
Holding companies and Conglomerates
- Date
- Title
- 2021-01-04
- Thinking like an owner
- 2020-09-21
- Monetising value through spin-offs
- 2020-01-06
- The LatAm compounders: focus on NAV growth
- 2019-09-04
- The search for value with a catalyst
- 2019-07-02
- Focus on capital allocation
- 2019-04-08
- Value with a catalyst or value trap?
- 2019-01-23
- Are collapsing cascade structures a trend?
- 2019-01-03
- Our top picks for 2019
- 2018-10-11
- NAV discount at record high
- 2018-07-09
- Cascade structures, double discounts
Latam Consumer
- Date
- Company
- Title
- 2020-12-02
- Pague Menos, Panvel, RaiaDrogasil, Porto Seguro, Fleury, Odontoprev
- Brazilian Healthcare | Digital disruption on the horizon
- 2020-09-01
- Pague Menos, Natura , Lojas Americanas, Via Varejo, Guararapes, Carrefour Brasil, Panvel, RaiaDrogasil, Arcos Dorados, Centauro, Marisa, GPA, MercadoLibre, Renner, Hering, Burger King Brasil, Arezzo, B2W, Alpargatas, Magazine Luiza
- Brazil eCommerce | Spotlight on 26 Brazilian retailers
- 2020-04-06
- GPA, Carrefour Brasil
- The Atacarejo food retailing format
- 2020-04-06
- GPA, Carrefour Brasil
- The Atacarejo food retailing format
- 2019-11-25
- RaiaDrogasil, Ultrapar, Panvel
- Brazilian drug retailers in pictures
- 2019-03-25
- Walmex, Femsa, Fragua
- Mexican drug retailers
- 2019-02-11
- BR Distribuidora, Ultrapar, Cosan
- Back to growth | margin normalisation
- 2018-11-30
- IMC, Burger King Brasil, Arcos Dorados
- Another e-revolution takes grip
- 2018-11-12
- RaiaDrogasil, Ultrapar
- Northern players feel the pain in Q3
- 2018-10-05
- BR Distribuidora, Ultrapar, Cosan
- An inflexion point in August?
Latam Macro
- Date
- Title
- 2020-03-13
- Valuation | Latin America | A 255bp spike in market risk premium
- 2019-12-17
- Brazil | BDR market | Key regulatory changes on the horizon
- 2019-12-02
- Valuation | Latin America | A discounted cash flow framework
- 2019-08-19
- Valuation | Latin America | Estimating the cost of equity
- 2017-05-05
- Latin America: US tax reform implications
- 2017-04-11
- Brazil Taxes: Payroll-tax breaks on the spotlight again
- 2016-12-05
- Mexican macro: Carstens out; minimum nominal wage up 9.7%
- 2016-11-17
- Brazil: Spending cup without pension reform is empty
- 2016-10-20
- Colombian Taxes: Dissecting the proposed tax reforms
- 2016-10-18
- Peruvian Macro: Commercial bank lending to grow below par
Nau Astrolabe
- Date
- Author
- Title
- 2018-05-31
- Cirrus Research
- Cirrus Research | Global Notepad – Latin America: Be Selective, Leadership too Narrow
- 2016-09-12
- Luis Arenzana
- Estimating risk free rates in emerging markets
- 2015-09-21
- George Magnus
- George Magnus on China's economy: no collapse, but it's serious - so are the politics
- 2015-05-27
- World Bank
- Shared Prosperity and Poverty Eradication in Latin American – a World Bank Study
- 2014-11-11
- Lucas de Aragão
- The View from Brasilia – What Next?
- 2014-09-03
- Jonathan Anderson
- Please, Please, Just Give Us Tapering Already
- 2014-04-28
- Michael Shaoul
- Prospects for Brazil and the Bovespa
Company meeting notes
- Date
- Company
- 2021-01-07
- Tenaris
- 2020-06-09
- Tenaris, Tenaris
- 2020-06-05
- Canacol
- 2020-05-29
- Terpel, Copec
- 2020-05-06
- Hypera Pharma
- 2020-04-29
- Qualitas, Ienova, Fragua, Gruma, ASUR, Femsa, La Comer, Liverpool , Hoteles City Express, OMA, Walmex, Traxion
- 2020-04-28
- IMC, Copec, Arcos Dorados, SM SAAM, Odontoprev, B2W, Walmex, Lojas Americanas, Duratex, Vivo, ASUR, Nutresa, Liverpool , Petrobras, OMA, ILC, Unidas, Traxion, Ambev, Totvs, Ienova, Santos Brasil, Gruma, Femsa, PagSeguro, La Comer, Localiza, Renner, Kroton, Rumo, Despegar, Arezzo, Alpargatas, Movida, Arco Platform, Linx, Qualitas, Braskem, Hoteles City Express, Natura , Carrefour Brasil, Grendene, CESP, Wilson, Sons , Log-In Logistica, Tenaris, GPA, IFS
- 2020-04-28
- Traxion, Ambev, Totvs, Ienova, Santos Brasil, Fragua, Wilson, Sons , Femsa, PagSeguro, La Comer, Localiza, Renner, Kroton, Rumo, Despegar, Arezzo, Alpargatas, Movida, Arco Platform, Linx, Qualitas, Braskem, Hoteles City Express, Natura , Carrefour Brasil, Grendene, CESP, Log-In Logistica, Tenaris, GPA, IFS, IMC, Copec, Arcos Dorados, SM SAAM, Odontoprev, B2W, Walmex, Lojas Americanas, Duratex, Vivo, ASUR, Nutresa, Liverpool , Petrobras, OMA, ILC, Unidas
- 2020-04-28
- Localiza, Unidas, Movida
- 2020-04-28
- IMC