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

Oct. 23 (Bloomberg) -- Amot Investments Ltd. 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 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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