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home / news releases / UGP - Ultrapar: Potential Regulatory Problems And Unattractive Valuation

UGP - Ultrapar: Potential Regulatory Problems And Unattractive Valuation

Ultrapar Participacoes S.A. American Depositary Shares

2024-06-13 14:26:30 ET

Summary

  • Ultrapar faces challenges with increased competition due to the possible return of state-owned Petrobras in the fuel distribution segment.
  • New changes to tax rules could further increase sectoral uncertainties.
  • The valuation is not attractive, both compared to peers and compared to its own history.

Investment Thesis

I recommend selling Ultrapar Participações S.A. ( UGP ) shares. The company operates in an extremely regulated sector and should see increased competition with the possible return of state-owned Petróleo Brasileiro S.A. - Petrobras ( PBR ) in the fuel distribution segment....

For further details see:

Ultrapar: Potential Regulatory Problems And Unattractive Valuation
Stock Information
Company Name: Ultrapar Participacoes S.A. American Depositary Shares
Stock Symbol: UGP
Market: NYSE
Website: ultra.com.br
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