| For a fourth year running, J.P. Morgan’s Joseph Nadol captures the crown. The 40-year-old stands out for his January upgrade of Exelis from neutral to overweight. Dubbing the shares a bargain at $9.16, he cited the McLean, Virginia–based supplier of high-tech defense gear’s high dividend yield and a likely rise in sales of its electronic jammers, radios and night-vision goggles. In early April, when the stock had climbed 30.9 percent, to $11.99, and led the sector by 26.3 percentage points, he downgraded it to neutral, primarily on valuation. The following month the company reported a year-over-year first-quarter revenue gain of 6 percent, to $1.4 billion, but affirmed its guidance that full-year revenues would decrease 7 percent, to $5.5 billion. Exelis’ shares had slid to $10.10 by the end of August. Nadol, who has a coverage universe of 20 stocks, currently favors United Technologies Corp., the Hartford, Connecticut–based aerospace giant, for the benefits of its July acquisition of Goodrich Corp. and growing demand in the aerospace aftermarket. |
Capital Goods/Industrials – Aerospace & Defense Electronics: First
October 16, 2012
