Jefferies Upgrades Ultrapar Participações (UGP) to Market Perform, Raises PT

Ultrapar Participações S.A. (NYSE:UGP) is one of the High-Flying Penny Stocks to Buy. On March 13, Jefferies analyst Alejandro Anibal Demichelis upgraded the stock to Marketperform from Underperform and also raised the price target from $3.10 to $5.60. The improved rating comes due to better near-term prospects for the company. The analyst noted that the Brazilian government recently announced a temporary 12% tax on crude oil exports, along with cuts to fuel import taxes and diesel subsidies to curb infla ...