Bank Hapoalim analyst Racheli Gershon today issued a valuation of Elron affiliate Netvision as part of her analysis of all of Elron¿s holdings.

Gershon values internet provider NetVision at $40 million, more than double the value of its competition, Internet Gold (Nasdaq:IGLD).

Internet Gold is traded on the Nasdaq at a $17 million market value. Gershon indicates that NetVision, with more than 330,000 customers, is reporting a positive EBITDA of $1.5 million.

Gershon bases her forecast on estimates NetVision will post $60 million sales in 2001, as opposed to $45 million in the first nine months of the year.