Defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) has become the most valuable Israeli company traded on the Tel Aviv Stock Exchange (TASE) and on Wall Street and the second most valuable company on the TASE after US cybersecurity giant Palo Alto Networks (Nasdaq: PANW), which began trading in Israel last week.
Elbit Systems, managed by CEO Bezhalel Machlis and controlled by Mikey Federmann, today leapfrogged Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA)Bank Leumi (TASE: LUMI), after overtaking Teva on Wall Street yesterday. In early morning trading on Nasdaq, Elbit Systems share price is up 4.53%, giving a market cap of $40.421 billion, while Teva is up 0.65%, giving a market cap of $37.839 billion. Micky Federmann’s 42.1% holding is worth $17 billion. Over the past two days alone, Elbit’s market cap has risen $4 billion, making Federmann’s holdings worth $1.6 billion more (on paper).
300% in two years
On Nasdaq, Elbit’s share price rose above the $800 threshold at the start of the week and is currently $869. Since the start of 2026, the share price has risen above both $600 and $700 and has quadrupled over the past two years. After the outbreak of the Russia-Ukraine war in 2022, Elbit's stock rose, but it faltered after October 7. It later emerged that amid protests and political pressure, a Canadian shareholder in Elbit had sold its shares, which put pressure on the stock.
The Canadian investor may well regret selling at 2024 values, but those who invested in Elbit stock in a secondary offering on Nasdaq less than a year ago, at a price of $375 per share, have more than doubled their money.
Elbit will publish its fourth-quarter and 2025 reports on March 17, and analysts expect it to show 15.7% annual growth of revenue of $7.9 billion, and to continue growing at a double-digit rate in 2026.
Despite the jump in the stock price, it seems that most analysts prefer to sit on the fence at this stage. According to the Wall Street Journal, out of seven analysts covering Elbit, five are neutral, one is positive and one is negative, and their average target price is a discount of 29.8% of the current price on Nasdaq.
Published by Globes, Israel business news - en.globes.co.il - on March 4, 2026.
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