Edward Wolfe | Edward Wolfe Wolfe Research SECOND TEAM Thomas Wadewitz JPMorgan THIRD TEAM Kenneth Hoexter Merrill Lynch |
Edward Wolfe launched his own research firm after leaving Bear, Stearns & Co. in March, but one thing hasn’t changed: his claim to the top spot, which he captures for a sixth straight year (and for eight of the past nine years). “He helps me make money by pointing to solid investment stories,” says one fund manager, citing Wolfe’s January upgrades of two rail transporters. The analyst advised clients to buy Virginia’s Norfolk Southern Corp., at $44.41, and Omaha, Nebraska’s Union Pacific Corp., at a split-adjusted $54.65, based on strong growth prospects. As of mid-September the stocks had roared to $67.97 and $77.80, respectively, for gains of 53.1 and 42.4 percent. During the same period the MSCI transportation index advanced 21.7 percent. Wolfe, 42, has “the best management interviewing skills on the Street,” insists one client. In second place for a second straight year is Thomas Wadewitz of JPMorgan Securities, who “connects the dots and helps us make money,” says one portfolio manager. Wadewitz initiated coverage of J.B. Hunt Transport Services way back in January 2006 with a buy recommendation and has highlighted the call repeatedly since, owing to the Lowell, Arkansas–based trucking company’s growing market share. The stock zoomed 41.9 percent in the 12 months ended mid-September 2008. Repeating in third, Kenneth Hoexter “understands the larger picture while paying attention to the details,” says one buy-sider. Rising fuel prices prompted the Merrill Lynch analyst to issue a contrarian downgrade of Memphis-based shipping services provider FedEx Corp. in November, at $101.61. By mid-September the share price had fallen 10.6 percent, to $90.84. Hoexter also wins praise for a May trip to China that allowed clients to visit local and international companies and meet with government officials “to see what was really going on,” as one money manager puts it.
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