Pampa Energía hits 12-month high of $54.17, Citigroup upgrades to buy rating ($58 target).

Pampa Energía (NYSE:PAM) shares hit a new 12-month high of $54.17 on 12 Aug, up from $51.97. Citigroup upgraded the Argentine power company to a buy rating, increasing its price target to $58.00. JPMorgan, HSBC, and Citigroup have issued positive ratings, giving Pampa Energía a consensus rating of "Moderate Buy" and an average target price of $50.50.