Charles Grom J.P. Morgan
In second place for a third year running is J.P. Morgan’s Charles Grom. In May 2009 the analyst upgraded Target Corp. from neutral to buy, at $39.14, on the early success of the Minneapolis-based retailer’s PFresh program, in which certain general merchandise stores were outfitted with a wider array of baked goods, meats and produce. The company launched the initiative at 108 locations last year and said it would expand the program to 350 more stores this year. Target’s stock shot up 30.7 percent, to $51.16, through August 2010, and clients are understandably impressed with Grom’s recommendation. “You’d be remiss to ignore his reports,” declares one portfolio manager.
