Pampa Energia price target raised to $93.50 from $59 at JPMorgan

JPMorgan raised the firm’s price target on Pampa Energia (PAM) to $93.50 from $59 and keeps a Neutral rating on the shares. JPMorgan is constructive on Argentina’s oil and gas industry and, despite the rally, still sees upside potential in the region. Under the new government, significant changes like oil deregulation, fuel price alignment with international parity, and incentives have transformed the sector, the analyst tells investors in a research note. It does not think that it is too late to invest in the group.