Thomas Wadewitz J.P. Morgan The buy side says: “Tom has had the right calls.”
For a third year running, J.P. Morgan’s Thomas Wadewitz, 44, dominates the sector. In June 2010, citing a positive pricing trend in railroads, he initiated coverage on cargo-train operator Kansas City Southern with an overweight rating, at $38.12, partly on its Mexican operations’ volume growth. Through August 2011 shares of the Missouri-based railroad ran up 42.1 percent, to $54.16, beating the sector by 29.7 percentage points. “He’s been pretty consistently bullish on the rails, which has been the right call,” cheers one booster. In January the analyst reduced Con-way from neutral to underweight as overpriced at $35.30, especially considering rising energy costs. By the end of August, the Ann Arbor, Michigan–based freight trucker’s stock had plunged 27.5 percent, to $25.59, while the sector tumbled 11.2 percent. Wadewitz is “hardworking and diligent, with a network of value-added industry contacts,” marvels one investor.
