Today’s Stock On Watch: Braskem SA (ADR) Can’t Burn Your Short Portfolio. Has Another Weak Session

Today's Stock On Watch: Braskem SA (ADR) Can't Burn Your Short Portfolio. Has Another Weak Session

The stock of Braskem SA (ADR) (NYSE:BAK) is a huge mover today! About 700,932 shares traded hands or 29.35% up from the average. Braskem SA (ADR) (NYSE:BAK) has risen 19.47% since April 14, 2016 and is uptrending. It has outperformed by 14.78% the S&P500.
The move comes after 6 months negative chart setup for the $6.04B company. It was reported on Nov, 16 by Barchart.com. We have $15.09 PT which if reached, will make NYSE:BAK worth $362.40M less.

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. HSBC initiated Braskem SA (ADR) (NYSE:BAK) on Tuesday, October 11 with “Buy” rating. The rating was upgraded by Bank of America to “Buy” on Tuesday, May 24.

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, São 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: “Plus the latest data from Realtor.com on 21 home markets across the US” published on December 22, 2009, Bidnessetc.com published: “Braskem SA (ADR) Of Brazil Sued In New York Court Over Petrobras Scandal” on July 02, 2015. More interesting news about Braskem SA (ADR) (NYSE:BAK) were released by: Bidnessetc.com and their article: “How Braskem SA (ADR) Got Tied Up In Petroleo Brasileiro Petrobras SA (ADR …” published on March 16, 2015 as well as Thestreet.com‘s news article titled: “Braskem SA Preferred Shares Sponsored ADR R Stock To Go Ex-dividend Tomorrow (BAK)” with publication date: May 04, 2011.

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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