Vista Energy downgraded to Neutral after 43% rally at Citi

Citi analyst Andres Cardona downgraded Vista Energy to Neutral from Buy with a price target of $50, up from $40. Today appears to be more challenging for Argentina oil and gas names relative to a few months ago, the analyst tells investors in a research note. The firm now sees an international scenario that may have a lower risk appetite given a more hawkish Federal Reserve than in January. Citi’s base case would need higher price assumptions or better mid-term production visibility to accelerate monetization of the company’s existing resource base, the analyst tells investors in a research note. It thinks Vista’s risk/reward has become “much more balanced” than some months ago and downgrades the stock following the 43% year-to-date rally.