Consumer: Airlines 2010 3rd
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Consumer: Airlines 2010 3rd

At No. 3 for a third year running is Barclays Capital’s Garrett Chase, described by one buy-side backer as “a big-picture guy — someone who gives you a longer-term view.”

Garrett Chase Barclays Capital


At No. 3 for a third year running is Barclays Capital’s Garrett Chase, described by one buy-side backer as “a big-picture guy — someone who gives you a longer-term view.” Last October, Chase downgraded AirTran Holdings of Orlando, Florida, the parent company of short-haul carrier AirTran Airways, on fears that its recent equity issue would prove dilutive. By the end of August, the stock had tumbled 11.4 percent, from $5.09 to $4.51, and trailed the sector by 27.8 percentage points.


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After two years in the runner-up position, Chip Dillon of Credit Suisse rises to No. 3. “He is able to understand more-esoteric issues specific to the space,” touts one client. Dillon initiated coverage of Pactiv Corp., the maker of Hefty brand trash and sandwich bags and a producer of food-service and food-packaging products, in March with an outperform rating, making the case that the Lake Forest, Illinois–based company was undervalued on the basis of earnings and cash flow.
Citi’s P.J. Juvekar, 43, finishes in first place for a second consecutive year. “The analyst makes timely calls, provides excellent written research and knows the industry better than his peers,” insists one portfolio manager. Juvekar upgraded PPG Industries to buy in January, at $59.97, telling clients that the Pittsburgh-­based producer of coatings for industrial, architectural and auto markets would benefit from increased auto production, as inventories had been depleted in 2009 because of the Car Allowance Rebate System, better known as the cash-for-­clunkers program. Juvekar also believed the company would reap benefits from rising industrial production, to which PPG’s earnings are highly correlated.
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