YPF raised to Buy at HSBC after strong Q2 results; Pampa and Vista maintained Buy

HSBC upgraded YPF to Buy with a $60 price target, citing strong Q2 results, positive free cash flow, and record-low leverage. The bank anticipates H2 windfall profits from high crude prices and refined margins, supported by the Metrogas sale. HSBC also maintained Buy ratings for Pampa Energia and Vista Energy, viewing them as attractive vehicles for exposure to Argentina's energy markets.