The stock of Braskem SA (ADR) (NYSE:BAK) is a huge mover today! About 182,553 shares traded hands. Braskem SA (ADR) (NYSE:BAK) has risen 29.92% since April 5, 2016 and is uptrending. It has outperformed by 27.96% the S&P500.
The move comes after 7 months positive chart setup for the $6.88 billion company. It was reported on Nov, 8 by Barchart.com. We have $26.00 PT which if reached, will make NYSE:BAK worth $3.30B more.
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. Braskem SA has been the topic of 4 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The stock of Braskem SA (ADR) (NYSE:BAK) has “Buy” rating given on Tuesday, May 24 by Bank of America. HSBC initiated the shares of BAK in a report on Tuesday, October 11 with “Buy” rating.
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 important 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 Thestreet.com published article titled: “Braskem SA Preferred Shares Sponsored ADR R Stock To Go Ex-dividend Tomorrow (BAK)”, Marketwatch.com published: “Plus the latest data from Realtor.com on 21 home markets across the US” on December 22, 2009. More interesting news about Braskem SA (ADR) (NYSE:BAK) was released by: Bidnessetc.com and their article: “Braskem SA (ADR) Of Brazil Sued In New York Court Over Petrobras Scandal” with publication date: July 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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