Braskem ((NYSE:(BA))K) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has a $14.00 price target on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 25.11% from the stock’s previous close.
Several other analysts have also recently weighed in on the company. Zacks Investment Research raised Braskem from a “sell” rating to a “hold” rating in a report on Wednesday, February 10th. Scotiabank reaffirmed a “sector outperform” rating on shares of Braskem in a research note on Thursday, October 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.00.
(NYSE:(BA))K opened at $11.19 on Wednesday. The business’s 50-day moving average price is $9.98 and its two-hundred day moving average price is $8.83. Braskem has a twelve month low of $3.86 and a twelve month high of $13.88. The stock has a market cap of $4.46 billion, a P/E ratio of -1.97 and a beta of 1.36.
Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in Braskem by 37.2% in the 2nd quarter. Bank of America Corp DE now owns 7,133 shares of the company’s stock worth $61,000 after purchasing an additional 1,934 shares during the period. Credit Agricole S A grew its position in shares of Braskem by 33.3% in the 4th quarter. Credit Agricole S A now owns 8,000 shares of the company’s stock worth $72,000 after buying an additional 2,000 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Braskem in the 4th quarter worth approximately $119,000. Trexquant Investment LP bought a new stake in shares of Braskem in the 4th quarter worth approximately $222,000. Finally, AQR Capital Management LLC grew its position in shares of Braskem by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 35,955 shares of the company’s stock worth $269,000 after buying an additional 6,337 shares during the last quarter. 0.46% of the stock is currently owned by institutional investors and hedge funds.
Braskem Company Profile
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. It operates through five segments: Chemicals, Polyolefins, Vinyls, United States and Europe, and Mexico. The Chemicals segment produces and sells ethylene, propylene butadiene, toluene, xylene, cumene, and benzene, as well as gasoline, diesel and liquefied petroleum gas, and other petroleum derivatives; and supplies electric energy, steam, compressed air, and other inputs to second-generation producers.
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