HSBC Raises Its Price Target on YPF Sociedad Anonima (YPF) As Analyst Turn Bullish On The Stock

YPF Sociedad Anónima (NYSE:YPF) is one of the 8 most undervalued oil stocks to buy. Lilyanna Yang from HSBC increased the firm’s price target on YPF Sociedad Anónima (NYSE:YPF) from $36 to $40 while reiterating a Hold rating on March 12. According to the firm, the price target revision reflects its updated outlook for oil prices, as it now sees greater upside risks in the crude market. Based on this view, HSBC raised its estimates for several Latin American oil companies under its coverage, including YPF.

YPF (YPF) Falls Hard on New Legal Case Ruling

Earlier, on March 5, Jefferies analyst Alejandro Demichelis also reaffirmed a Buy rating on YPF Sociedad Anónima (NYSE:YPF), along with the price target of $47. The firm’s price target suggests a further 25.4% upside from the current levels.

YPF Sociedad Anónima (NYSE:YPF) repurchased Class XXX notes worth 49.8 billion Argentine pesos between March 3 and March 9. The amount is equal to a par value of $35.5 million. The company said peso‑denominated notes were repurchased at an average price of 98.83% of their nominal value. These notes mature in July 2026, and the company will keep the repurchased securities in its portfolio.

YPF Sociedad Anónima (NYSE:YPF) is an energy company operating in Argentina. The company is involved in upstream and downstream gas and oil activities. It was founded in 1977 and is headquartered in Buenos Aires, Argentina.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.