Capital Goods/Industrials: Engineering & Construction
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Capital Goods/Industrials: Engineering & Construction

Baltimore-based Barry Bannister of Stifel, Nicolaus & Co., who repeats in second place, wins plaudits for a top-down approach that keeps him “focused on big-picture themes,” as one fund manager puts it.

Barry Bannister Stifel, Nicolaus & Co.


Baltimore-based Barry Bannister of Stifel, Nicolaus & Co., who repeats in second place, wins plaudits for a top-down approach that keeps him “focused on big-picture themes,” as one fund manager puts it. In May 2009, Bannister upgraded Chicago Bridge & Iron Co. from hold to buy, at $10.73, arguing that the declining dollar would buoy the oil-drill designer’s order flow. It did, and through August 2010 the shares of the company, which is incorporated in the Netherlands but has its operational headquarters in the Woodlands, Texas, more than doubled, to $21.78. During the same period the sector slid 6.5 percent.


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After two years in the runner-up position, Chip Dillon of Credit Suisse rises to No. 3. “He is able to understand more-esoteric issues specific to the space,” touts one client. Dillon initiated coverage of Pactiv Corp., the maker of Hefty brand trash and sandwich bags and a producer of food-service and food-packaging products, in March with an outperform rating, making the case that the Lake Forest, Illinois–based company was undervalued on the basis of earnings and cash flow.
Citi’s P.J. Juvekar, 43, finishes in first place for a second consecutive year. “The analyst makes timely calls, provides excellent written research and knows the industry better than his peers,” insists one portfolio manager. Juvekar upgraded PPG Industries to buy in January, at $59.97, telling clients that the Pittsburgh-­based producer of coatings for industrial, architectural and auto markets would benefit from increased auto production, as inventories had been depleted in 2009 because of the Car Allowance Rebate System, better known as the cash-for-­clunkers program. Juvekar also believed the company would reap benefits from rising industrial production, to which PPG’s earnings are highly correlated.
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