SECOND TEAM Justin Post BofA Merrill Lynch Global Research
Justin Post, who works out of San Francisco, reclaims second place after falling to third last year. Described by one fan as “consistently accurate on stock calls,” the BofA Merrill Lynch Global Research analyst upgraded Seattle-based online retailer Amazon.com from neutral to buy in October 2010, at $164.97, on strong growth of its Kindle e-book device and in anticipation of robust holiday sales, among other factors. In early January, with the stock up 12.7 percent, to $185.86, Post highlighted the call; later that month the company reported that year-over-year net sales in the fourth quarter shot up 36 percent, to $12.9 billion, and profit rose 8.3 percent, to $416 million. Amazon’s shares had risen to $215.23 by the end of August, for an increase of 15.8 percent since the reiteration and 30.5 percent since the upgrade. Over the entire period the sector declined by 9.2 percent. Post’s “timely call on Amazon was a real moneymaker,” cheers one grateful investor.