Coverage
- Company
- Country
- Alba
- Spain
- Alfa SAB de CV
- Mexico
- Alpargatas SA
- Brazil
- America Movil
- Mexico
- Antarchile
- Chile
- Arcelik
- Turkey
- Arco Platform
- Brazil
- Arcos Dorados
- Argentina
- Arezzo Industria e Comercio SA
- Brazil
- Assaí
- Brazil
Diário
- Date
- Company
- 2021-06-23
- Vamos, KUO, Arezzo, Assaí, GPA, Rumo SA, Rumo, Grupo KUO SAB De CV, Vostok
- 2021-06-22
- Canacol , Petz, CSAV, GPA, Eletrobras, Televisa, Walmex
- 2021-06-21
- CCU, Quinenco, B2W, GPA, Bradespar
- 2021-06-18
- Walmex, MercadoLibre, Galp Energia SGPS SA, GALP, Portugal Telecom, CSAV
- 2021-06-17
- Stone, B2W, Stone Co, Lojas Americanas, Linx, Linx SA, Hering
- 2021-06-16
- Ultrapar, Petz, Aenza SAA, Ultrapar Participacoes SA
- 2021-06-15
- Traxion, Grupo Traxion SAB de CV, GPA, MercadoLibre, GRUPO DE MODA SOMA SA, Rumo SA, Rumo
- 2021-06-14
- Stone, Arezzo, Stone Co, Petrobras, BR Distribuidora
- 2021-06-11
- Copec, B2W, Antarchile, Gruma, Lojas Americanas, MercadoLibre, Mercado Pago, Gruma SAB de CV, Bradespar
- 2021-06-10
- Alfa, JSL, Lojas Americanas, B2W
Company research notes
- Date
- Company
- Title
- 2021-06-22
- VEF | Konfio raises US$125m | 14% NAV discount
- 2021-06-20
- GeoPark
- GeoPark | Suspension of coverage
- 2021-06-14
- Grupo Traxion SAB de CV, Traxion
- Traxion | Plenty in the tank still
- 2021-06-08
- Qualitas
- Qualitas | Downgrade | capital optimisation a must
- 2021-06-07
- GALP, Galp Energia SGPS SA
- GALP | Seeing the wood for the trees
- 2021-06-02
- Quinenco, CSAV
- Highly anomalous valuation discounts
- 2021-06-01
- Grupo Exito, GPA
- Cnova monetisation, Éxito next?
- 2021-06-01
- Lojas Americanas, B2W
- Group Simplification | 2 or 3 parts?
- 2021-06-01
- GALP, Galp Energia SGPS SA
- GALP | Energy transition and unlocking value
- 2021-05-28
- Vostok
- VEF | Creditas | Multidimensional disruption
Models
- Company
- Country
- Sector
- Alba
- Spain
- Conglomerates
- Alpargatas
- Brazil
- Consumer
- America Movil
- Mexico
- Telecommunication Services
- Arco Platform
- Brazil
- Consumer
- Arcos Dorados
- Argentina
- B2W
- Brazil
- Consumer
- Burger King Brasil
- Brazil
- Consumer
- Centauro
- Brazil
- Consumer
- Antarchile, Copec
- Chile
- Conglomerates, Industrials
- Cosan
- Brazil
- Agriculture, Holding companies
Nau Preferencia
- Date
- Title
- 2021-06-15
- Small & Midcap Compendium | Jun 2021
- 2021-06-07
- Latin American stock ideas | June 2021
- 2021-05-17
- Small & Midcap Compendium | May 2021
- 2021-05-06
- Latin American stock ideas | May 2021
- 2021-04-19
- Small & Midcap Compendium | April 2021
- 2021-04-06
- Latin American stock ideas | April 2021
- 2021-03-17
- Small & Midcap Compendium | March 2021
- 2021-03-08
- Latin American stock ideas | March 2021
- 2021-02-16
- Small & Midcap Compendium | February 2021
- 2021-02-02
- Latin American stock ideas | February 2021
Latam Banks
- Date
- Company
- Title
- 2021-06-16
- Latam Fintech | Credijusto buys Banco Finterra
- 2021-06-09
- Latam Fintech | GBM | Softbank | Thinking ahead
- 2021-05-24
- Itau, Banco do Brasil, Bradesco, Nubank, Banco Santander Brasil, Vostok
- Brazilian Banks | Still sailing into the wind
- 2021-05-18
- IFS, Credicorp Ltd
- Peruvian Banks | CTS deposits withdrawals | Sector impact
- 2021-04-23
- Latam Fintech | A first look at PicS (“PicPay”) | Pre-IPO research
- 2021-03-26
- Nubank
- Dissecting Nubank’s FY20 earnings
- 2021-03-18
- Latam Fintech | The Valley sets its sights on Mexico
- 2021-03-15
- Credicorp, IFS
- Peruvian Banks | Rate caps | Between a rock and a hard place
- 2021-03-05
- Vostok
- Latin American Fintech | Offerings are multipling and evolving
- 2021-02-22
- Latin American Banks | Consolidation | All eyes on Santander | Citibank | HSBC
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
- 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
- 2020-02-03
- GeoPark
- Colombian E&Ps | still plenty in the tank
- 2019-12-10
- Tullow Oil
- What’s next for Tullow Oil?
Latam TMT
- Date
- Company
- Title
- 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
- 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
Holding companies and Conglomerates
- Date
- Title
- 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
- 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
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
- 2021-02-26
- 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
- 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