Consumer: Food - 2010 1st
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Consumer: Food - 2010 1st

Andrew Lazar captures the crown for an eighth consecutive year, thanks in part to consistently impressing investors with his detailed knowledge and broad view of the sector.

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Andrew Lazar Barclays Capital


The buy side says: “Andrew is by far the most thoughtful analyst in the space.”


Andrew Lazar captures the crown for an eighth consecutive year, thanks in part to consistently impressing investors with his detailed knowledge and broad view of the sector. The Barclays Capital analyst “is very good at taking a step back and looking at the big picture, trying to tie together threads across different companies,” explains one buy-side enthusiast. Lazar, 44, named Kraft Foods, the nation’s largest seller of beverages, confectionery and food, his top pick back in May 2009 and has highlighted the call repeatedly since, citing improving margins and robust earnings growth. Shares of the Northfield, Illinois–based concern rose 12.2 percent year-to-date through August, from $26.66 to $29.91. During the same period the sector advanced only 4.2 percent.


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After two years in the runner-up position, Chip Dillon of Credit Suisse rises to No. 3. “He is able to understand more-esoteric issues specific to the space,” touts one client. Dillon initiated coverage of Pactiv Corp., the maker of Hefty brand trash and sandwich bags and a producer of food-service and food-packaging products, in March with an outperform rating, making the case that the Lake Forest, Illinois–based company was undervalued on the basis of earnings and cash flow.
Michael Gambardella, who sits atop the sector for a third year running, “has been covering this space for 25 years or more — I believe that is the right number — and he offers an unparalleled perspective, given his history with these companies and his relationships,” according to one satisfied client.
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