Brian Tunick |
First TeamBrian Tunick JPMorgan Second Team Kimberly Greenberger, Citi Third Team Dana Cohen, BofA |
Repeating at No. 1, Brian Tunick of JPMorgan Securities is “unafraid to say his retailers are no longer attractive,” explains one portfolio manager, who adds, “Unlike many other analysts, he’s not hanging on for more.” Still, Tunick, 33, felt justified in hanging on for more from Abercrombie & Fitch Co. The analyst first recommended the New Albany, Ohio– based clothing retailer in May 2004, at $32.63, and has highlighted it repeatedly since, most recently in August, citing its rising sales productivity and tight margins. The stock was up 18.6 percent for the 12 months ended mid-September, compared with a 3.8 percent loss for the sector. Kimberly Greenberger bounds from runner-up to second. “Gap’s bottom-out buy call was impressive and value-added,” says one satisfied buy-sider, referring to the Citi analyst’s July contrarian recommendation to buy shares of the San Francisco–based clothier on the belief that new leadership would move the company in the correct direction. Through mid-September the stock was up 6.4 percent. Dana Cohen of Banc of America Securities is No. 3 for a third straight year. Cohen has what one client calls “an old-school, long-term focus on trend analysis rather than data points.” Cohen targeted Tiffany & Co. in March, upgrading the trendy New York–based retailer to buy, at $42.71. After hedge fund manager Trian Fund Management raised its stake in the company, Cohen was assured company management would face pressure for operational improvements and new initiatives. By mid-September the stock was up 21.8 percent. |
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Consumer: Retailing/ Specialty Stores