Telecommunications: Telecom Services

Sanford C. Bernstein & Co.

Sanford C. Bernstein & Co.’s Craig Moffett advances from runner-up to the third team; he is also No. 1 in Cable & Satellite, for a fifth straight year. Moffett upgraded Verizon Communications from underperform to neutral in February, at $27.44. “Verizon’s relative multiple, relative to the broader market, had compressed, and expectations had fallen sharply, to the point that it no longer warranted an active underperform rating,” explains Moffett. The New York–based phone and Internet service provider’s shares rose 7.6 percent, to $29.53, through August. During the same period the sector climbed 10.2 percent. Moffett “has in-depth knowledge of the sector and is not afraid to take a contrarian view,” hails one supporter.