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The survey is entitled "Not expensive but really not cheap."
Glazer explained that bank shares are not attractive at current price levels.
The target price set by Glazer for the various banks reflects an average premium of 9 percent compared with the present price. Of the leading banks Israel Discount Bank (TASE:DSCT) stands out with a high target price of 15 percent above the present market price. Following Glazer's recommendations, the TASE Banking Index lost 2.3 percent today.
To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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