Merrill Lynch has added Israel Chemicals Ltd. (TASE: ICL) to its regional list of "highest conviction" stock recommendations.
Along with Israel Chemicals, the only Israeli firm added to the Merrill Lynch Emerging EMEA 1 in the current adjustment, Qatar National Bank was also added to the list. Turkiye Is Bankasi and Turkcell have been removed from the EEMEA 1 list.
Merrill describes its Emerging EMEA 1 list as a collection of the highest conviction stock recommendations from Merrill Lynch research analysts, and it is designed to offer investors access to some of the firm’s best research ideas in the emerging EMEA region (Emerging Europe, Middle East and Africa including South Africa).
Stocks generally remain on Merrill's list for 12 months, except under certain circumstances such as a downgrade from a "Buy" rating.
Shares in Israel Chemicals have risen nearly 65% in 2008. The share is down 0.1% to NIS 79.91 in Tel Aviv Stock Exchange (TASE) trading today.
Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2008
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