2015 All-America Research Team: Machinery, No. 2: Ann Duignan
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2015 All-America Research Team: Machinery, No. 2: Ann Duignan

J.P. Morgan’s Ann Duignan captures second place for a ninth consecutive year.

< The 2015 All-America Research Team

Ann Duignan

J.P. Morgan

First-place appearances: 0


Total appearances: 12


Analyst debut: 2004


J.P. Morgan’s Ann Duignan captures second place for a ninth consecutive year. Her valuable client service and distinctive understanding of U.S. machinery stocks are among the attributes that buy-side admirers cite in explaining the analyst’s consistently strong showing. Particularly noteworthy, reports one money manager, is Duignan’s “frequent reporting of lots of data.” Moreover, she’s “a delight to work with,” another supporter observes. Duignan sliced her rating on Lisle, Illinois–based Navistar International Corp. from overweight to underweight in February, after a meeting with management failed to convince her that the truck and bus manufacturer would regain market share. The shares have traded mostly downward since, closing in mid-September at $16.35, for a loss of 45.1 percent during a period in which U.S. machinery names overall fell 10.1 percent. Concurrently with her downgrading of Navistar, the researcher changed her stance on Bellevue, Washington’s Paccar from neutral to overweight. Among the largest heavy-duty truck makers in the world, with such brands as Kenworth and Peterbilt, Paccar was enjoying strong order flow, she noted. Although the stock declined 8.9 percent through mid-September, to close at $56.31, she projects that it will climb as high as $71 in the next 12 months.



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