Citi ups Pampa Energia target, adds ‘upside 90-day short-term view’

Citi raised the firm’s price target on Pampa Energia (PAM) to $92 from $88 and keeps a Neutral rating on the shares. The firm also added an “upside 90-day short-term view” on Pampa Energia. Rincon de Aranda development activity has began and Citi expects to have better visibility about the productivity of the wells along with the Q2 results, the analyst tells investors in a research note. The firm s more constructive on Argentina energy after the country reached a deal with the International Monetary Fund, even in an environment of lower oil prices.