Coverage
- Company
- Country
- 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
- Assaí
- Brazil
- ASUR
- Mexico
- Banco de Chile
- Chile
Diário
- Date
- Company
- 2022-05-20
- GALP, Petrobras, Stone, VEF, PagSeguro, Nubank, Copec
- 2022-05-19
- Quinenco, CCU, Grupo Bimbo, Prisa, Eletrobras, Nubank, Arcos Dorados
- 2022-05-18
- Corporación América Airports, Alfa, Concha y Toro, Natura
- 2022-05-17
- Itausa, Antarchile, Copec, Concha y Toro, Nubank, Vibra Energia
- 2022-05-16
- Wilson, Sons , Femsa, Qualitas, Cosan , SmartFit, Vasta
- 2022-05-13
- Canacol , B2W, CSAV, Lojas Americanas, BoaVista, Femsa, Pampa Energia SA, CCR, IFS
- 2022-05-12
- Itau, Ultrapar, Bancolombia, Banorte, Femsa, Gruma, GeoPark
- 2022-05-11
- Assaí, Ternium, Tenaris, Grupo Mateus, Vivo
- 2022-05-10
- Itau, Assaí, Renner, Concha y Toro, Wilson, Sons , Gruma, Televisa, TIM Brasil
- 2022-05-09
- Arezzo, Assaí, Despegar, Renner, GPA, Bradesco, Rumo, Sabesp
Company research notes
- Date
- Company
- Title
- 2022-05-20
- Concha y Toro
- Leveraging brand equity & proximity
- 2022-05-19
- Nubank
- Nubank | Spotlight | ECL accounting & credit quality
- 2022-05-18
- Natura
- Natura | Clear metrics and accountability
- 2022-05-13
- Femsa
- US$20bn in lost value up for grabs
- 2022-05-13
- Qualitas Controladora SAB de CV
- Qualitas | Repricing benefit not fully visible until FY23
- 2022-05-11
- Gruma
- Resilient free cash flow generation
- 2022-05-11
- Itausa, Itau
- Itaú Unibanco | Retail banking ROE has halved since 2015
- 2022-05-09
- TIM Brasil
- TIM | Consolidation drives cashflow growth
- 2022-05-09
- Renner
- Upgrade | momentum returns
- 2022-04-26
- Ultrapar Participacoes SA, Ultrapar
- Ultrapar | Ultra Day | a missed opportunity?
Models
- Company
- Country
- Sector
- Alba
- Spain
- Conglomerates
- Alpargatas
- Brazil
- Consumer
- America Movil
- Mexico
- Telecommunication Services
- Arco Platform
- Brazil
- Consumer
- Arcos Dorados
- Argentina, Sweden
- Financials, Holding companies
- B2W
- Brazil
- Consumer
- Burger King Brasil
- Brazil
- Consumer
- Centauro
- Brazil
- Consumer
- Antarchile, Copec
- Chile
- Conglomerates, Industrials
- Cosan
- Brazil, Chile
- Agriculture, Holding companies
Nau Preferencia
- Date
- Title
- 2022-05-17
- LatAm Small & Midcap Compendium | May 2022
- 2022-04-19
- LatAm Small & Midcap Compendium | April 2022
- 2022-03-21
- Gender diversity in Latin America
- 2022-03-18
- LatAm Small & Midcap Compendium | March 2022
- 2022-03-04
- Mexico Top Picks | February 2022
- 2022-02-15
- LatAm Small & Midcap Compendium | February 2022
- 2022-01-17
- LatAm Small & Midcap Compendium | January 2022
- 2022-01-11
- Latin American Small Cap Top Picks | January 2022
- 2022-01-07
- Latin American Large Cap Top Picks | January 2022
- 2021-12-17
- LatAm Small & Midcap Compendium | December 2021
Latam Banks
- Date
- Company
- Title
- 2022-04-21
- Mexican Banks | Some positive developments on dividends
- 2022-04-04
- Mexican Banks/Fintech | A week in Mexico City and Monterrey
- 2022-02-16
- Nubank, BBVA
- Latin American Fintech | BBVA & JPM pick their Brazilian neobanks
- 2022-01-21
- Nubank, Banorte
- Latam Fintech | RappiCard one year on…
- 2022-01-12
- Banamex, Banorte, Banco Santander Mexico
- Latin American Banks | Citi to exit Mexico | What's next?
- 2022-01-11
- Kueski | Company meeting | shifting to BNPL
- 2021-11-05
- Latam American Fintech | Ualá buys ABC Capital
- 2021-11-04
- Brazilian Banks | 10 trends that matter
- 2021-10-25
- Mexican Banks | AFOREs’ profitability halves under cited cap
- 2021-10-19
- Mexican Fintech | Regulatory challenge for some wallets
Latam Infrastructure
- Date
- Company
- Title
- 2021-09-30
- Movida Participacoes SA, Movida, Unidas, Localiza
- Brazil mobility | Fending off the horde
- 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
Latam Energy
- Date
- Company
- Title
- 2022-02-28
- WEG, CESP, Enel Chile SA, Aeris Industria E Comercio De Equipament, Enel Americas, Omega Geracao SA, Celsia, Pampa Energia SA
- LatAm Renewables | “Blowin’ in the Wind”
- 2021-11-24
- Quinenco, Copec, Antarchile
- Chile Fuel Retail | Small is beautiful
- 2021-01-28
- YPF SA, Petrobras
- Latin America energy agenda reset | Ecopetrol chases ISA deal
- 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
Latam TMT
- Date
- Company
- Title
- 2022-01-12
- Traxion, Walmex, Natura , B2W, MercadoLibre, Magazine Luiza, Via Varejo, Arezzo, Assaí, Lojas Americanas, Raia Drogasil, Renner, Nubank, Femsa
- Latin American e-commerce
- 2021-09-30
- America Movil, Telefonica, Entel, LiLAC
- Latin American Telecoms | LILA and AMX to form JV in Chile
- 2021-09-20
- Loggi, RaiaDrogasil, VEF, GPA, Grendene SA, Alpargatas, MercadoLibre, Pet Center Comercio e Participacoes SA, Walmex
- Latin American e-commerce
- 2021-08-20
- Petz, Walmex, Marisa Lojas SA, Magazine Luiza, B2W, MercadoLibre, Grendene, Aliansce, Natura , Via Varejo, Mercado Pago, Grendene SA, Lojas Americanas, GPA, Marisa, Femsa, Aliansce Sonae Shopping Centers sa
- Latin American e-commerce
- 2021-07-15
- Renner, Lojas Americanas, Arezzo, Via Varejo, Magazine Luiza, MercadoLibre, Duratex SA, Petz, B2W, Duratex, Walmex, Arezzo Industria e Comercio SA
- Latin American e-commerce
- 2021-06-28
- America Movil, Televisa
- A proliferation of streaming platforms
- 2021-05-21
- Via Varejo, B2W, Lojas Americanas, MercadoLibre, Magazine Luiza
- Q1 trends | growth, groceries, logistics
- 2021-04-08
- Stone, Stone Co, PagSeguro
- Brazilian Payments | Reinstating our preference for PAGS
- 2021-01-29
- Telefonica
- Discontinuation of coverage
- 2021-01-29
- Telefonica, TIM Brasil, America Movil, Vivo, Liberty Latin America Ltd, Entel
- Consolidation | 5G | Towers
Holding companies and Conglomerates
- Date
- Title
- 2022-04-11
- Events and potential catalysts
- 2022-03-08
- Commodities | The “double whammy”
- 2022-02-18
- Latam Special Sits Events | Holding companies Top Picks | February 2022
- 2022-01-14
- Latam Special Sits Events | Holding companies Top Picks
- 2021-10-21
- Events | Accelerating activity
- 2021-07-30
- Single-asset holdcos | US$36bn lost value
- 2021-06-09
- Who's next?
- 2021-04-07
- Creating value through simplification
- 2021-01-04
- Thinking like an owner
- 2020-09-21
- Monetising value through spin-offs
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
- 2022-01-07
- Boa Vista Servicos SA
- 2021-11-02
- YPF SA, Tenaris, Globant, Ternium, GeoPark
- 2021-09-14
- Loggi, Loggi
- 2021-02-26
- Banorte
- 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