Daniel Ford |
First TeamDaniel Ford Lehman Second Team Gregory Gordon Citi Third Team Hugh Wynne Sanford C. Bernstein |
After six years in second place, Daniel Ford of Lehman Brothers claims the No. 1 spot. Ford, 40, is described by one client as “a very hard worker who puts out a ton of stuff,” such as his May report downgrading regulated utilities to negative based on their high valuations. Among the companies the Wells, Maine–based analyst told investors to avoid: electricity distributor Pinnacle West Capital Corp. of Phoenix and Xcel Energy of Minneapolis. By mid-September the stocks had fallen 17.0 and 12.3 percent, respectively, while the sector fell 3.6 percent. Ford earned a B.A. in economics from Dartmouth College in 1989 and joined Lehman in 2001 from ABN Amro. Rising one notch to second is Citi’s Gregory Gordon, whom buy-siders praise for his “thoughtful analysis” and “tireless” work ethic. Gordon stuck with perennial favorite Constellation Energy Group even as shares of the Baltimore-based electricity wholesaler slipped in June 2006, when its proposed merger with FPL Corp. of Juno Beach, Florida, appeared in jeopardy. The deal fell through in October, but Gordon’s loyalty paid off; for the 12 months ended mid-September, Constellation’s shares were up a starry 42.6 percent. Hugh Wynne of Sanford C. Bernstein finishes third. Wynne recommended TXU Corp. last November, at $57.52, with a price target of $71. Three months later, private equity firm Kohlberg Kravis Roberts & Co. announced a $69.25-per-share bid for the Dallas utility. |
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Energy: Electric Utilities 2007