Biotech Stocks Dominate Monday’s Top 10 Gainers

6. YPF Sociedad Anónima (NYSE:YPF)

YPF Sociedad Anonima grew its share prices by 10.32 percent on Monday to finish at $33.13 apiece as investor sentiment was boosted by an investment bank’s rating upgrade for the firm.

On Monday, HSBC raised YPF’s price target by 57 percent to $33 from $21 previously, while upgrading its rating to Hold from Reduce.

The price target, however, was 0.39 percent lower than YPF’s closing price on Monday.

According to HSBC, the better outlook was attributed to Argentina’s economy, energy sector, and YPF’s internal restructuring plan.

In particular, HSBC said Argentina’s $20 billion loan agreement with the International Monetary Fund and the removal of foreign exchange controls have favorably impacted YPF’s funding costs, sparking investor interest in Argentine equities.

YPF is a vertically integrated, state-controlled energy company engaged in oil and gas exploration, production, transportation, refining, and marketing of gas and petroleum products.