Kenneth Usdin BofA Merrill Lynch Global Research
Kenneth Usdin slips one notch to second place. The BofA Merrill Lynch Global Research analyst elevated KeyCorp to top pick in December, at $5.80, on the strength of the Cleveland-based mortgage provider and ATM operator’s high credit quality and low default rates. The shares surged to $9.17 in late April before sliding to $7.37 at the end of August, but they were still up 27.1 percent — and ahead of the sector by 13.7 percentage points — since Usdin’s call. “When it comes to getting at fundamental trends, Ken is as tenacious as a bulldog,” observes one admirer. Usdin will move to Jefferies & Co. this month.