Harel Insurance initiated with an Overweight at Barclays

Barclays initiated coverage of Harel Insurance (HAHRF) with an Overweight rating and ILS 97 price target The firm sees Harel as a “compelling way to get exposure to Israel’s solid economy and secular growth tailwinds.” It believes the stock has 30% upside potential as the company gets credit for its higher return on equity profile and diversification strategy.