The stock of Braskem SA (ADR) (NYSE:BAK) is a huge mover today! About 134,364 shares traded hands. Braskem SA (ADR) (NYSE:BAK) has risen 21.77% since February 29, 2016 and is uptrending. It has outperformed by 9.56% the S&P500.
The move comes after 8 months positive chart setup for the $5.86B company. It was reported on Oct, 3 by Barchart.com. We have $24.46 PT which if reached, will make NYSE:BAK worth $3.22 billion more.
Analysts await Braskem SA (ADR) (NYSE:BAK) to report earnings on November, 3.
Braskem SA (ADR) (NYSE:BAK) Ratings Coverage
Out of 2 analysts covering Braskem SA (NYSE:BAK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Braskem SA has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Tuesday, May 24 by Bank of America.
According to Zacks Investment Research, “Braskem SA figures as the largest petrochemical operation in Latin America and among the five largest private companies in Brazil. With industrial facilities located in Alagoas, Bahia, SÃ£o Paulo and Rio Grande do Sul, Braskem produces primary base petrochemicals such as ethylene, propylene, benzene, caprolactam, DMT and termoplastic resins (polypropylene, polyethylene, PVC and PET) gas and GLP.”
More notable recent Braskem SA (ADR) (NYSE:BAK) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on December 22, 2009, also Quotes.Wsj.com with their article: “DOW JONES, A NEWS CORP COMPANY” published on February 11, 2011, Bidnessetc.com published: “How Braskem SA (ADR) Got Tied Up In Petroleo Brasileiro Petrobras SA (ADR …” on March 16, 2015. More interesting news about Braskem SA (ADR) (NYSE:BAK) were released by: Bidnessetc.com and their article: “Braskem SA (ADR) Of Brazil Sued In New York Court Over Petrobras Scandal” published on July 02, 2015 as well as Bidnessetc.com‘s news article titled: “Petroleo Brasileiro Petrobras SA (ADR) Revises Contract With Braskem SA (ADR)” with publication date: March 02, 2015.
BAK Company Profile
Braskem S.A. (Braskem), incorporated on January 12, 1972, produces thermoplastic resins. The Company’s divisions are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. Braskem is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy for its own use and use by other companies. Braskem also invests in other companies, either as a partner or as shareholder. It operates over 40 industrial units, over 30 of which are located in the Brazilian states of Alagoas (AL), Bahia (BA), Rio de Janeiro (RJ), Rio Grande do Sul (RS) and Sao Paulo (SP); over five are located in the United States, in the states of Pennsylvania, Texas and West Virginia, and over two are located in Germany, in the cities of Wesseling and Schkopau. These units produce thermoplastic resins-polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), as well as basic petrochemicals.
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