Institutional Investor

rates

UBS Warburg

analyst Stephen Levey in first place for his coverage of the Israeli market.

The magazine, which provides market research material for institutional organizations, says that Levey is one of the most experienced analysts covering the Israeli market. It commends his insightful analysis of Israel's political developments and the way in which it affects Israeli stocks.

Levey has been covering the Israeli market for the past seven years. He and Jonathan Half recommended

Check Point Software Technologies

(Nasdaq:CHKP) and

Teva Pharmaceuticals

(Nasdaq:TEVA), which in 2000 gained 162% and 115% respectively. But Levey missed in his coverage of

Nice Systems

(Nasdaq:NICE). He set Nice a price target of $80 at the beginning of 2000 and the stock's price today is just $18. Levey has recently slashed the target from $80 to $30.

Goldman Sachs

analyst Elan Zivotofsky is rated as the second best analyst covering the Israeli market. During the market slump in the second half of 2000, Zivotofsky upgraded his recommendation for Check Point. As of mid-December, Check Point shares have gained 75%.

Third place was awarded to

Merrill Lynch

(NYSE:MEL) analyst Tal Liani. The analyst specializes in local holding companies, food and communication firms. Liani misfired on

Magic Software Enterprises

(Nasdaq:MGIC), which he rated with a Buy, setting a target of $30. He later downgraded the company to Accumulate and slashed the target to $5.