Amot Rises to 4-Month High After Clal Finance’s ‘Buy’ Rating

Amot Investments Ltd. (AMOT) increased to the highest level in almost four months after Clal Finance Brokerage Ltd. raised its recommendation on the real-estate developer to “buy” from “outperform.”

The shares climbed 3.6 percent to 9.84 shekels, the highest since July 5, at the 4:30 p.m. close in Tel Aviv.

“Amot is our top pick in the sector with a diversified portfolio, less leverage and potential for dividend appreciation,” Yuval Ben Zeev, an analyst at Tel Aviv-based Clal, wrote in a report today.

Ben Zeev, who increased his share-price estimate on Amot to 12.3 shekels from 11.8 shekels, also raised his recommendations on Azrieli Group (AZRG) Ltd. and Reit 1 Ltd. to “outperform” from “market perform.”

Azrieli increased 1.9 percent to 91.85 shekels, the highest in a week. Reit 1 gained 1 percent to 6.72 shekels, the highest since July 19.

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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