second team Charles Grom J.P. Morgan
third team Michael Exstein Credit Suisse
Holding on to the No. 1 spot for a sixth consecutive year is Deborah Weinswig. The Citi researcher is “one of the most prolific analysts on Wall Street,” according to one investor. Weinswig, 39, who also ranks third in Retailing/Food & Drug Chains, upgraded Kohl’s Corp. in October 2008 after a monthlong sell-off had left the Menomonee Falls, Wisconsin–based department store’s shares a bargain-priced $31.54. Through August the stock rang up gains of 63.6 percent, to $51.59, more than doubling the sector’s 30.7 percent advance.
Charles Grom of J.P. Morgan retains second place, for a second year in a row. Backers laud his extreme dedication: “From his jam-packed management meeting calendar to his laser-like focus on retail technology, no other analyst spends more of their days and nights helping clients,” extols one buy-sider. Grom upgraded Saks to buy in April, at $3.54, telling investors that fears that the New York–based fashion retailer would declare bankruptcy were overstated. The stock had vaulted 72.3 percent, to $6.10, by August 31.
It’s three straight years in third place for Michael Exstein. The Credit Suisse analyst “really looks at where capital is flowing to understand the longer-term direction of margins and returns,” explains one ally. Exstein downgraded Wal-Mart Stores of Bentonville, Arkansas, from buy to neutral in January, at $50.56, on lackluster sales during the 2008 holiday season and increased competition from Minneapolis-based Target Corp. Eight months later Wal-Mart’s share price had barely moved, closing at $50.87 on August 31.
Click here to see the All-America Research Team rankings.
