Stifel Says Worst Is Over for Mellanox: Israel Overnight
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Mellanox Technologies Ltd. will rebound from the biggest monthly slump this year as its Tel Aviv delisting helps lower costs while the global economic recovery boosts demand, the most-accurate analyst says.
Shares of Mellanox, the Israeli maker of equipment that speeds electronic data transfers, slid 0.9 percent last week in New York, extending its monthly drop to 14 percent. The Bloomberg Israel-US Equity Index of the most-traded Israeli shares sank 2.5 percent for the week, led by Partner Communications Co. ClickSoftware Technologies Ltd., whose largest investor is George Soros’s fund, rose 1.3 percent.