Consumer: Leisure - 2007

Robin Farley

First Team

Robin Farley

UBS

Second Team

Dean Gianoukos, JPMorgan

Third Team

Felicia Kantor Hendrix, Lehman

Runner-Up

Timothy Conder, A.G. Edwards

For a sixth consecutive year, Robin Farley of UBS is the top Leisure analyst. “She has the best grasp of the industry,” says one investor. Farley, 37, is especially prized for her coverage of Harley-Davidson. In June she predicted that the Milwaukee-based motorcycle manufacturer would report weak sales for a second consecutive quarter and downgraded the stock to sell. By mid-September the share price had fallen 22.2 percent. Caution on the cruise lines helps Dean Gianoukos sail from runner-up to second. Last October the JPMorgan Securities analyst downgraded Carnival Corp. and Royal Caribbean Cruises, saying the stocks of the Miami-based companies were overpriced. By mid-September the share prices had fallen 4.6 and 5.5 percent, respectively, while the sector had gained 15.4 percent. “He is always up-to-date on fuel prices, capacity, bookings and new ships coming into the market,” says one investor. Repeating in third, Felicia Kantor Hendrix is “more reachable and client-friendly” than other analysts, says one money manager. Investors continue to profit from the Lehman Brothers researcher’s longtime bullishness on Vail Resorts, first recommended in January 2006 on the strength of the Broomfield, Colorado–based ski resort operator’s strong growth prospects. For the 12 months ended mid-September, the stock was up 46.0 percent.