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8. Companhia Energetica de Minas Gerais (Cemig) ( CIG), a Brazil-based electric utility, engages in the generation, transmission and distribution of electricity. Besides, it is also distributes natural gas, telecommunications, and energy solutions. The stock advanced 11.7% during the past one month.

Of the six analysts covering the stock, 83% rated a buy while the remaining advised a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to increase by an average 29.6% to $23.1 in the upcoming 12 months.

Dividend payout for 2010 was 77 cents per share. Early January, shareholders received a special dividend of 79 cents per share -- double that of ordinary dividend. Cemig, Brazil's top electricity distributor, is likely to benefit from the approximate 10% hike in electricity tariff in 2011, which analyst believe will remain stagnant until 2013, and rise by an additional 10% in 2014.

On an average, analysts estimate Cemig's revenue to grow 10% to $7.5 billion and earnings per share by a huge 20%. The company's return on equity and assets are nearly double the industry average, thereby attracting investors.

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