David Raso | David Raso Citi SECOND TEAM Ann Duignan JPMorgan THIRD TEAM Barry Bannister Stifel Nicolaus |
In a volatile sector — the MSCI machinery index surged 31.8 percent in 2007 then dropped 18.5 percent this year as of mid-September — there is one constant: Citi’s David Raso, who leads the sector for an eighth consecutive year. Raso, 38, earns accolades for his contrarian stand on Oshkosh Corp. He initiated coverage in January with a sell rating, at $45.72, on weakness in the Wisconsin-based forklift manufacturer’s international business. By mid-September the share price had skidded 70.6 percent, to $13.42. “David doesn’t miss a thing,” marvels one investor. Ann Duignan, who joined JPMorgan Securities in June, when it absorbed Bear, Stearns & Co., repeats in second place. Hailed for what one client calls her “agricultural insights,” Duignan is credited with standing firm in her support of Deere & Co., first recommended way back in July 2005 on optimism about crop prices. In the 12 months ended mid-September, shares of the Moline, Illinois–based farm equipment manufacturer outperformed the sector by 6.1 percentage points. “She spots trends early,” proclaims one backer. Barry Bannister rises from runner-up to third. The Stifel, Nicolaus & Co. analyst recommended Bucyrus International, a mining equipment manufacturer headquartered in South Milwaukee, Wisconsin, in July 2006 and has highlighted the call repeatedly since, on surging worldwide demand. The stock skyrocketed 52.9 percent in the 12 months ended mid-September. “He has great stock-picking skills,” cheers one grateful investor.
