JPMorgan upgraded YPF to Neutral from Underweight with a price target of $16, up from $8.50. The analyst cites potential benefits from a more market-friendly government in Argentina for this state-owned company for the upgrade. YPF is now the firm’s preferred play in Argentina oil and gas. The political shift, coupled with the potential de-risking in Argentina, suggests a favorable outlook, the analyst tells investors in a research note.
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