YPF upgraded to Buy from Neutral at Citi

Citi upgraded YPF (YPF) to Buy from Neutral with a price target of $33, up from $24. The firm considers the company the best positioned to benefit from the outcome of potential divestiture of Exxon assets to Pluspetrol. YPF could still benefit from a re-rating on the largest landbank in Vaca Muerta while engaging a new player into the midstream expansion, the analyst tells investors in a research note. Citi says YPF also scores better in Citi’s bearish view of $60 per barrel for crude in 2025.