TEL AVIV, Aug 25 (Reuters) - Bank Hapoalim lowered its rating for Cellcom, Israel's largest mobile phone operator, to "market perform" from "outperform".
"Expectations for increased competition and a slow recovery in incoming tourism leads us to lower our recommendation," analyst David Levinson said in a report released on Tuesday.
He set a 12-month price target of 122 shekels for Cellcom shares, which were down 0.3 percent at 112.7 shekels in morning trade in Tel Aviv. ($1 = 3.79 shekels) (Reporting by Tova Cohen; Editing by Rupert Winchester)