Institutional Investor All American Research Team | Page 4
62/research & rankings THE FUTURIST THE CHARTIST CONTENTS INSIDE II OP
DE II OPENING CAPITAL THE 2012 ALL-AMERICA RESEARCH TEAM INVESTING RESEARCH & RANKINGS THE FUTURIST THE CHARTIST CONTEAM INVESTING
has a great perspective on where
the global consumer’s shopping
habits are headed over the long
run, at a time when many analysts are overly focused on the
next quarterly earnings report,”
contends one client. Although
Saad has been a long-term bull
on makers of luxury goods —
“given their competitive advantages in branding, global reach,
pricing power and flexible
business models” — he says
those companies are suffering
from negative market sentiment
owing to global economic
uncertainty. Instead, Saad urged
clients to buy Framingham,
Massachusetts–based TJX Cos.
in October 2011, at $28.59.
“Their secret weapon is the ability to curate an appropriate mix
of basics and the right fashion in
a more timely and effective manner than other U.S. specialty
retailers,” he says.The stock
bolted 60.2 percent, to $45.79,
through August. Saad, 39, covered the sector for six years at
Credit Suisse before joining ISI
in May 2011; he earned an MBA
from the Kellogg School of
Management at Northwestern
University in Evanston, Illinois.
— Katie ilbert
G
The Deutsche Bank Securities
researcher holds a cautious view
on the sector, which in the coming year will be “challenged by
very slow growth in the U.S., no
growth in Europe and rising
overcapacity in key emerging
markets such as China,” he says.
Even so, Lache has buy ratings
on several stocks: American
Axle & Manufacturing Holdings, a Detroit-based components maker that has “one of the
strongest backlogs” of new business in the industry; Detroit’s
General Motors Co., which is
“on the cusp” of an upturn in its
North American product cycle
that will see “roughly 50 percent
of the company’s portfolio
refreshed or renewed”; and
Akron, Ohio’s Goodyear Tire
& Rubber Co., which is exhibiting “much stronger levels of
profitability at all points in the
cycle,” he says. Lache “can
break down the complexities of
global cost structure, auto sales
and other key variables, and
simplify the issues for you,”
marvels one backer.The
42-year-old joined Deutsche
Bank in 1994 from Mabon
Securities Corp. (now Banca
IMI Securities Corp.) and was a
pollution-control analyst until
1998, when he switched to covering the autos sector. He holds a
bachelor’s degree in finance
from NewYork University’s
Stern School of Business. — P
.S.
JOHN
AUTOS & AUTO PARTS
Rod Lache
Deutsche Bank Securities
The buy side says:
“He does a great job of giving
you industry overviews with a lot
of analytical data.”
A
fter three straight years in
second place, Rod Lache
speeds into the winner’s circle.
FAUCHER IS
“NUMBERS
ORIENTED.
MANY
SELL-SIDE
ANALYSTS
AREN’T.”
I N S T I T U T I O N A L I N V E S T O R . C O M • O C T O B E R 2 012
says, with prices stabilizing
and sales of noncarbonated
drinks rising.
— K.G.
BEVERAGES
FOOD
John Faucher
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