5 High-Flying Penny Stocks to Buy
Insider Monkey – Free Hedge Fund and Insider Trading Data (Talha Qureshi)In this piece we will look at the 5 High-Flying Penny Stocks to Buy. Please visit 10 High-Flying Penny Stocks to Buy, if you’d like to see an extended list and how we came up with the list of High-Flying Penny Stocks to Buy.
5. Ultrapar Participações S.A. (NYSE:UGP)Number of Hedge Fund Holders: 18
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 inflation from rising global oil prices amid the Iran war.
The analyst noted that these measures ease pressure on fuel retailers such as Ultrapar Participações S.A. (NYSE:UGP) by stabilizing domestic prices and boosting margins. The firm has adopted a bullish sentiment on Brazilian fuel retailers overall and also upgraded UGP’s peer Vibra Energia to Buy from Hold. The firm noted that the upgrades reflect short-term benefits from the policy mix amid ongoing political risks.
Ultrapar Participações S.A. (NYSE:UGP) is a Brazilian conglomerate primarily engaged in the distribution and retail of automotive fuels and related products.
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