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Consumer: Food - 2008
It’s six straight years at No. 1 for Andrew Lazar, described by one money manager as “a very thorough, thoughtful analyst.” The 42-year-old researcher, at Barclays Capital since its parent acquired Lehman Brothers last month, made General Mills his top pick last November, at $56.44, on rising profits.
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Andrew Lazar
Andrew LazarBarclays
SECOND TEAM
Terry BivensJPMorgan
THIRD TEAM
Alexia HowardSanford C. Bernstein
RUNNERS-UP
David DriscollCiti; Eric KatzmanDeutsche
It’s six straight years at No. 1 for Andrew Lazar, described by one money manager as “a very thorough, thoughtful analyst.” The 42-year-old researcher, at Barclays Capital since its parent acquired Lehman Brothers last month, made General Mills his top pick last November, at $56.44, on rising profits. Shares of the Minneapolis-based packaged-foods producer had surged 22.4 percent, to $69.10, by mid-September. During the same period the sector dropped 1.9 percent. Lazar upgraded Campbell Soup Co. of Camden, New Jersey, in mid-June, at $33.18, on increasing demand. Three months later the share price was up 18.1 percent, to $39.20. Terry Bivens, who joined JPMorgan Securities in June, when it absorbed Bear, Stearns & Co., lands in second place for a third straight year. “He has been following the group for years and consequently has a good Rolodex,” says one longtime client. Spotting a downward trend in the prices of both raw milk and fuel, Bivens upgraded Dean Foods Co. to overweight in July, at $17.99. Shares of the Dallas-based beverages distributor had bubbled up 33.0 percent, to $23.92, by mid-September, outperforming the sector by 27.7 percentage points. Newcomer Alexia Howard takes third place. The Sanford C. Bernstein & Co. analyst impresses investors with her ability to spot themes and macro trends. In March, Howard upgraded H.J. Heinz Co. to outperform, on strong growth prospects in European markets. By mid-September the Pittsburgh-based condiment manufacturer’s stock had outpaced the sector by 12.3 percentage points.