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The 2013 All-America Research Team: Gaming & Lodging, No. 1: Joseph Greff
For an eighth consecutive year, J.P. Morgan’sJoseph Grefftakes top honors. The 43-year-old actively covers 28 names, and he has “outstanding knowledge of the big-picture issues facing the casino operators,” according to one portfolio manager. One such company, Las Vegas–based MGM Resorts International, has proved a winner. Greff upgraded the stock from neutral to overweight in May 2009, at $7.76, and has highlighted his position periodically since as his proprietary research has shown steadily rising room rates. MGM catapulted 80 percent in the 12 months through August, from $9.83 to $17.69, compared with the sector’s gain of 19.3 percent. Another Las Vegas jackpot: Bally Technologies. The analyst first upgraded the shares from neutral to overweight in December 2011, at $37.50, because the slot machine maker had “broad product momentum,” he says, and was positioned to surpass guidance. Greff has stuck with his call — and in the 12 months through August, the shares leaped 62.9 percent, from $44.28 to $72.13, outperforming the sector by 43.6 percentage points. “Joe provides thorough and consistent coverage with a dynamic perspective and great depth of knowledge,” insists another fund manager. —Ben Mattlin |
