Himanshu Patel |
First TeamHimanshu Patel JPMorgan Second Team Rod Lache, Deutsche Third Team Ronald Tadross, BofA |
Himanshu Patel, 32, vaults from third to make his initial appearance in first, impressing investors with his “thorough understanding” and “extensive knowledge” of auto industry labor issues, particularly postemployment health care liabilities. Patel, who joined JPMorgan Securities in 1997 after graduating from New York University with a bachelor’s degree in finance and marketing, recommended Goodyear Tire & Rubber Co. in August 2006, at $11.72, on his belief that forthcoming contract negotiations with the United Steelworkers would result in meaningful concessions for the Akron, Ohio–based tire manufacturer — which is what happened. The stock zoomed to $36.63 in July, before getting caught in the broader market downdraft. Even so, in mid-September the stock was up 117.8 percent since Patel’s call; during the same period the sector had gained 51.9 percent. Three-time second-teamer Rod Lache has “the cerebral horsepower to tackle the complex issues facing the auto industry,” according to one money manager. In February the Deutsche Bank Securities analyst issued a buy recommendation on American Axle & Manufacturing Holdings, saying the Detroit-based auto-components maker was undervalued at $21.95. In April, after the stock had shot up 30.9 percent, to $28.73, he urged investors to take profits. By mid-September the share price had fallen back to $22.36. Ronald Tadross, who slips from first to third, left Banc of America Securities in August for New York–based hedge fund Pardus Capital Management. But he earns plaudits for the depth of his research and industry expertise. “He’s very in-the-know about what’s going on behind the scenes,” says one client. |
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Consumer: Autos and Auto Parts - 2007