THIRD TEAM Lorraine Hutchinson BofA Merrill Lynch Global Research
Previously unranked Lorraine Hutchinson captures third place for BofA Merrill Lynch Global Research. Hutchinson, who according to one client “thinks like an investor,” upgraded Tiffany & Co. from neutral to buy in February 2010, at $39.04, and then elevated the stock to top pick that August, anticipating robust growth for the New York–based jeweler over the next few years. So far, she’s been right. In March the company reported that year-over-year net sales for fiscal 2010, which ended in January, had risen 13.9 percent, to $3.1 billion, and net earnings from continuing operations had shot up 39.1 percent, to $368.4 million; the company forecast sales growth of 12 to 14 percent for the current financial year. By the end of August, Tiffany’s stock had skyrocketed 84.3 percent, to $71.96, and trumped the sector by 65.7 percentage points.