The stock of Braskem SA (ADR) (NYSE:BAK) hit a new 52-week high and has $20.88 target or 20.00% above today’s $17.40 share price. The 7 months bullish chart indicates low risk for the $6.65B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $20.88 price target is reached, the company will be worth $1.33B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 461,290 shares traded hands or 4.40% up from the average. Braskem SA (ADR) (NYSE:BAK) has risen 21.16% since March 14, 2016 and is uptrending. It has outperformed by 15.55% the S&P500.
Analysts await Braskem SA (ADR) (NYSE:BAK) to report earnings on November, 3.
Braskem SA (ADR) (NYSE:BAK) Ratings Coverage
Out of 3 analysts covering Braskem SA (NYSE:BAK), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $16 is the highest target while $14.30 is the lowest. The $16 average target is -8.05% below today’s ($17.4) stock price. Braskem SA has been the topic of 4 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The rating was initiated by HSBC on Tuesday, October 11 with “Buy”. As per Tuesday, May 24, the company rating was upgraded 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: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on December 22, 2009, Thestreet.com published: “Braskem SA Preferred Shares Sponsored ADR R Stock To Go Ex-dividend Tomorrow (BAK)” on May 04, 2011. 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: “How Braskem SA (ADR) Got Tied Up In Petroleo Brasileiro Petrobras SA (ADR …” with publication date: March 16, 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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