| Gregory Melich, who debuted in second place last year, advances to first. Clients praise the researcher’s “attention to detail” as well as his “big-picture analysis.” One such top-down view: Because of the Internet, “retail has changed — these days it’s much more about picking the right subsectors,” Melich says. Home improvement is one that doesn’t lend itself easily to online shopping, he adds, which is why his top pick is Home Depot. Melich launched coverage on the Atlanta-based big-box retailer in June 2010 with a buy, at $27.79, noting that its store locations are superior to those of Mooresville, North Carolina–based competitor Lowe’s Cos.: On average, 40 percent more people live within 5 miles of the former than the latter. By the end of August 2012, the stock had catapulted 104.2 percent, to $56.75, gaining 74.3 percent in the trailing 12 months alone. Melich, 42, joined ISI Group in June 2010 from Morgan Stanley, where he spent 16 years covering autos. He has a bachelor’s degree in economics from Williamsburg, Virginia’s College of William & Mary. |
Consumer – Retailing/Hardlines: First
October 16, 2012
