Capital Goods/Industrials: Electrical Equipment & Multi-Industry
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Capital Goods/Industrials: Electrical Equipment & Multi-Industry

Robert Cornell of Barclays Capital rises from runner-up to reclaim the third-team spot he last held in 2008.

Robert Cornell Barclays Capital


Robert Cornell of Barclays Capital rises from runner-up to reclaim the third-team spot he last held in 2008. “Bob sets the benchmark for Wall Street,” asserts one loyalist. Cornell upgraded 3M Co. from underweight to equal weight in April 2009, at $54.68, in anticipation of improving sales growth. He was right, and a year later, after the St. Paul, Minnesota–based Scotch Tape maker’s stock had bolted 58.9 percent, to $86.87, and shot past the sector by 19.1 percentage points, he upgraded it further, to overweight. That call didn’t work out so well; by late August the stock had fallen 9.6 percent — in line with the sector’s 9.8 percent decline — to $78.55.


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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.
Michael Gambardella, who sits atop the sector for a third year running, “has been covering this space for 25 years or more — I believe that is the right number — and he offers an unparalleled perspective, given his history with these companies and his relationships,” according to one satisfied client.
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