Deutsche Bank Downgrades YPF S.A. (YPF) to Sell

Deutsche Bank downgraded YPF S.A. (NYSE: YPF) from Hold to Sell with a price target of $11.20. Analyst Alexander Burgansky noted producer subsidies are set to decline.

"Argentina's new government has adopted a more balanced approach to hydrocarbon pricing, reducing the producer subsidy for 2016 and targeting import price parity in the future. As its subsidies decline, YPF's earnings are set to deflate. In the meantime, we see no chance of a significant change in a dividend policy while the producer subsidy is in place, and with YPF’s low sensitivity to a possible oil price recovery," said Burgansky.

For an analyst ratings summary and ratings history on YPF S.A. click here. For more ratings news on YPF S.A. click here.

Shares of YPF S.A. closed at $15.73 yesterday.

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