Braskem SA (BAK) Given Average Recommendation of “” by Brokerages

Shares of Braskem SA (NYSE:BAK) have been given an average broker rating score of 0.00 () from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $23.25 for the company and are anticipating that the company will post ($2.10) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Braskem SA an industry rank of 58 out of 265 based on the ratings given to its competitors.

Several research firms have recently weighed in on BAK. Zacks Investment Research downgraded Braskem SA from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 6th. JPMorgan Chase & Co. raised Braskem SA from a “neutral” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Monday, December 5th.

Braskem SA (NYSE:BAK) opened at 20.70 on Tuesday. Braskem SA has a one year low of $10.82 and a one year high of $23.15. The company’s market capitalization is $8.24 billion. The stock’s 50 day moving average price is $20.76 and its 200 day moving average price is $18.47.

Several institutional investors have recently added to or reduced their stakes in BAK. Crow Point Partners LLC bought a new position in Braskem SA during the third quarter valued at $126,000. Comerica Bank acquired a new position in Braskem SA during the fourth quarter worth about $215,000. Airain ltd acquired a new position in Braskem SA during the third quarter worth about $232,000. Eqis Capital Management Inc. acquired a new position in Braskem SA during the third quarter worth about $236,000. Finally, SG Americas Securities LLC acquired a new position in Braskem SA during the third quarter worth about $266,000. 1.20% of the stock is currently owned by hedge funds and other institutional investors.

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Braskem SA Company Profile

Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It 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, the provision of industrial services, and the production, supply and sale of electric energy.

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