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Fly News Breaks for December 17, 2018
PBR, YPF, EC
Dec 17, 2018 | 05:11 EDT
Citi analyst Pedro Medeiros lowered his price target for Ecopetrol (EC) to $21 from $27.20 saying the company remains the Latin America Oil & Gas name with the greatest correlation to short-term oil prices. He keeps a Neutral rating on the shares. The analyst also raised his price target for Buy-rated YPF (YPF) to $23.20 from $22.50 saying Vaca Muerta efficiencies off-set the decline in oil prices. Medeiros' top pick in the sector is Petrobras (PBR).