The buy side says: “David is the elder statesman of the sector.”
It’s eight straight years on top for Morgan Stanley’s David Adelman, who wins praise from clients for “thinking beyond the quarters” and for being “the first call on tobacco.” The 44-year-old analyst reiterated his overweight rating on Philip Morris International in February, at $45.03, making the case that the New York–based cigarette manufacturer would continue to enjoy solid revenue streams. By the end of August, the shares had risen to $51.36, a gain of 14.1 percent that led the sector by 4 percentage points.
