Sara Gubins
Bank of America Merrill Lynch
 Down one notch to third place is Bank of America Merrill Lynch’s Sara Gubins. The analyst, who tracks 24 companies, wins points for a judicious downgrade of Career Education Corp. from neutral to underperform in November, at $15.95, after the Schaumburg, Illinois–based for-profit vocational education services provider reported that some schools in its chain had been inflating their job-placement rates, putting them at risk of losing their accreditation status. Later that month the Accrediting Council for Independent Colleges and Schools instructed CEC to show cause why accreditation should not be withdrawn. In May the council announced that it would not take punitive action against CEC, but in June another organization, the Accrediting Commission of Career Schools and Colleges, launched an investigation into CEC’s administrative practices. By late August the stock had plummeted to $3.15 — for a staggering 80.3 percent loss that trailed the sector by 92.2 percentage points. “She’s realistic and pragmatic, not tied to an overall industry view,” marvels one supporter.

RUNNER(S)-UP

Gerald Bisbee
Barclays

Kelly Flynn
Credit Suisse