"The good times have just begun."
Clal Finance Batucha Ltd. has upgraded its recommendation for Israel Chemicals Ltd. (TASE: ICL) to "Buy" from "Outperform". The investment house also raised its target price to NIS 80, a 16% premium on today's opening price of NIS 68.60, 43% higher than the previous target price of NIS 56, which was already deep in the money.
In a reported entitled "The good times have just begun," Clal Finance analysts Yuval Ben-Zeev and Aviran Revivo said, "With a net profit projected of more than $1.5 billion in 2008, a profit multiple of 14.8, and $2 billion, a profit multiple of 12.1, the share is still attractive."
Israel Chemicals rose 1.9% in morning trading on the TASE today.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2008
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