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Bethel Finance news:
Psagot Investment House Ltd. has initiated coverage of Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) with a "Hold" recommendation and target price of NIS 0.35, compared with Tuesday's opening price of NIS 0.33.
"We recommend exposure to the Leviathan project by investing in the participation units of Avner Oil and Gas LP (TASE: AVNR.L), in view of its low price compared with its target price, and its foundation on a broad portfolio and the potential for value creation at Block 12," says Psagot analyst Tal Sharizli in an update on the natural gas partnerships.
Sharizli added, "The gas partnerships are distinguished by their risk levels and potential for creating value."
Psagot had raised its recommendation for Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) to "Buy", and reiterated its "Hold" recommendations for Delek Group Ltd. (TASE: DLEKG) subsidiaries Avner and Delek Drilling LP (TASE: DEDR.L), saying "Isramco is given a 'Buy' recommendation because of the gap compared with its target price, and reasonable risk due to the progress in developing the Tamar project," says Sharizli.
Psagot says that value assessments in the natural gas sector are especially uncertain, and that differences between forecasts and actual results are liable to cause considerable changes.
Ratio's share price rose 2.1% in morning trading today to NIS 0.341, giving a market cap of NIS 2.5 billion.
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