second team Terry Bivens J.P. Morgan
third team Alexia Howard Sanford C. Bernstein
Andrew Lazar “is smart, very analytical, and has significant depth of knowledge from long tenure covering food manufacturers,” in the words of one money manager. The Barclays Capital analyst is also ranked No. 1 for a seventh straight year. Lazar, 43, upgraded Kraft Foods from neutral to buy in May, at $24.94, citing the Northfield, Illinois–based company’s growing market share and improving margins. The stock rose 13.7 percent, to $28.35, through August.
J.P. Morgan’s Terry Bivens, who lands in second place for a fourth consecutive year, pleases clients with his “historical perspective” and “even-keeled approach.” Bivens initiated coverage of Archer-Daniels-Midland Co. of Decatur, Illinois, with a buy recommendation in October 2008, at $17.99, on strong growth prospects. In February, after the stock had soared 51.3 percent, to $27.22, Bivens downgraded it to hold, on valuation. By late August, ADM shares had inched up to $28.83.
Sanford C. Bernstein’s Alexia Howard repeats in third place. “Her in-depth food industry work on category growth rates, geographical expansion opportunities and profit drivers stands out among her peers’,” one investor asserts. Rising commodities costs prompted Howard to downgrade Pittsburgh’s H.J. Heinz Co. from outperform to market-perform in January. The stock then roughly mirrored the sector’s 9.3 percent advance, through August 31.
Click here to see the All-America Research Team rankings.
