|
It’s five straight years in third place for Bank of America Merrill Lynch’s John Murphy. “He’s great,” declares one ally. “His yearly report, ‘Who Makes the Car,’ is a great reference source for the auto-parts space.” Murphy also wins praise for his steadfast support of Ford Motor Co. Since August 2011, when shares of the Dearborn, Michigan–based automaker dipped below $10 for the first time in more than a year, the analyst has been arguing that the stock has been unjustly oversold. Ford management intends to replace 26 percent of its product pipeline by 2016 — a higher replacement rate than those of U.S. rival General Motors Co., and Japan’s Nissan Motor Co. and Toyota Motor Corp., he says — and that “should allow Ford to maintain market share in the 15 percent to 16 percent range and support solid pricing.” Plus, the company is sitting on more than $9 billion in cash, and earlier this year both Fitch Ratings and Moody’s Investors Service upgraded Ford’s debt rating to investment grade. Despite all this, “the stock has underperformed the market owing to concerns about Ford’s exposure to Europe, which is about 20 percent of sales,” Murphy explains. “However, given the company-specific strengths and recovery in the key U.S. market, we remain bullish.” RUNNER(S)-UP Brian Johnson Barclays Adam Jonas Morgan Stanley |
Consumer – Autos & Auto Parts: Third