Consumer: Homebuilders and Building Products - 2007

Ivy Zelman

First TeamIvy Zelman

Zelman & Associates

Second Team

Daniel Oppenheim, BofA

Third Team

Michael Rehaut, JPMorgan

Runners-Up

Stephen Kim, Citi;

Carl Reichardt Jr., Wachovia

Ivy Zelman left Credit Suisse in June to launch her own boutique research firm, but she has not left the No. 1 spot, which the Cleveland-based analyst has held for seven of the past eight years. “Ivy is the best homebuilder analyst, not only for 2007 but for the past decade,” gushes one happy client. Last October, Zelman, 41, published “Wonder-Land,” a report that warned of a coming meltdown in the housing market, and in December, as the stocks were peaking, she issued a strong call urging investors to dump their holdings. By mid-September the sector was down 22.1 percent, while the broad market rose 5.5 percent during the period. New to the team is Daniel Oppenheim, who finishes second. Cautious on the sector all year, the Banc of America Securities analyst adds value with his monthly survey of 2,500 to 4,000 real estate agents that monitors traffic of potential home buyers. “His surveys and his contacts with private builders have been extremely helpful,” says one investor. Michael Rehaut debuts in third. The JPMorgan Securities analyst focuses on inventories as the most important drivers of stock prices. “I like the depth and breadth of the data he uses,” says one buy-sider.