gems emerging europe israel banking finance 12 january 2006 mizrahi tefahot bank reuters mztf ta bloomberg it exchange tlv ticker on retail michael klahr research analyst 972 3 710 2015 db com dan harverd 2019 initiating coverage with hold and price target of nis28 50 since its merger in late 2004 s fourth largest 9 share by assets has embarked a strategy aimed at using strong mortgage franchise c30 as springboard to enter the growing but competitive market core is recruit high end customers payroll accounts cross sell add products services all we like focus see current prices fairly reflecting risk involved forecasts ratios year dec 31 2003a 2004a 2005e 2006e 2007e stated eps ils 1 53 77 2 43 4 97 21 adjusted 45 06 56 p e x 6 8 10 7 dividend
