Sinopec Shanghai Petrochemical Co. (ADR) (SHI) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Underweight ” on the company shares. JP Morgan advised their investors in a research report released on Apr 12, 2016.
Many Wall Street Analysts have commented on Sinopec Shanghai Petrochemical Co. (ADR). Sinopec Shanghai Petrochemical Co. (ADR) was Upgraded by JP Morgan to ” Overweight” on Apr 12, 2016.
Sinopec Shanghai Petrochemical Co. (ADR) closed down -0.76 points or -1.52% at $49.08 with 5,461 shares getting traded on Monday. Post opening the session at $49.54, the shares hit an intraday low of $49.08 and an intraday high of $49.54 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Sinopec Shanghai Petrochemical Company Limited is a petrochemical Company. The Company is engaged in processing crude oil into synthetic fibers resins and plastics intermediate petrochemicals and petroleum products. The Company has five segments: synthetic fibres resins and plastics intermediate petrochemicals petroleum products and trading of petrochemical products. The Company’s synthetic fibres segment produces primarily polyester and acrylic fibers. Its resins and plastics segment produces primarily polyester chips polyethylene resins and films polypropylene resins and polyvinyl alcohol (PVA) granules. The Company’s intermediate petrochemicals segment primarily produces p-xylene benzene and ethylene oxide. The Company’s petroleum products segment is equipped with crude oil distillation facilities used to produce vacuum and atmospheric gas oils. Its trading of petrochemical products segment is primarily engaged in importing and exporting of petrochemical products.