JP.Morgan analysts upgraded their assessment of the oil company in a note to clients, saying the energy industry in Argentina has room for further growth as part of the country’s “economic transformation.”
The analysts of JP Morgan improved their evaluation of the YPF oil company in a note to clients, saying that the energy industry in Argentina has room to further growth as part of the “economic transformation” of the country.
The US investment bank raised its recommendation for YPF to “overweight” from “neutral” and more than doubled its target price to $59.5 for its ADR, from the previous US$25. Taking into account the current value of the share, around US$45, JP Morgan sees a potential increase of close to 30%.
In 2024, YPF shares soared more than 150% amid a significant rally in the Argentine stock market, while investors celebrated the measures implemented by President Javier Milei since he took office in December 2023.
Markets welcomed a harsh campaign of austerity and deregulations implemented by Milei to try to stabilize Argentina’s public accounts and economy as it emerges from a painful recession.
Source: Ambito
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