Stephen Levey's Israeli UBS team wins first place in 2002 European analyst survey

The Israeli branch of UBS Warburg headed by analyst Stephen Levey has won first place for the second consecutive year in the Israeli portion of the European analyst survey for 2002.

Goldman Sachs Israeli team won second place, and third place went to Credit Suisse First Boston, headed by Ehud Helft.

UBS won first place in Europe, after ten separate UBS teams in Europe won first place. CSFB won second place in Europe, and Goldman Sachs came in seventh.

The results of the survey were published Thursday and include a rating of analysts in Europe, the United States, Asia, Japan and South America.

One institutional investor said that the Israeli UBS team covers a large number of companies, more than any other team in Israel. The investor said that UBS is always attentive to the political situation in Israel. The team includes Jonathan Half who focuses on telecoms, and Daniella Finn who specializes in the software market.

The Israeli branch of Goldman Sachs headed by Elan Zivtofsky won second place for the second year running. Besides Zivtofsky, the team includes Shimon Levy and Abe Finkelstein. Investors commented that all the stocks covered by the Israel team of Goldman Sachs trade also in New York, but another investor said that Goldman Sachs timing isn't always the best. Investors noted that Goldman Sachs didn't remove Orbotech (Nasdaq:ORBK) from its recommended list until March 2001, two months after UBS had downgraded Orbotech, due to expected erosion from the economic downturn. The investors said that when Goldman Sachs took Orbotech out of its list, Orbotech fell by another 10%, losing an aggregate 40% by the end of December.