Braskem SA (ADR) (BAK) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on May 24, 2016.
Braskem SA (ADR) opened for trading at $11.39 and hit $11.56 on the upside on Friday, eventually ending the session at $11.52, with a gain of 2.58% or 0.29 points. The heightened volatility saw the trading volume jump to 5,77,195 shares. Company has a market cap of $4,592 M.
Braskem S.A. (Braskem) is a producer of thermoplastic resins. The Company has 36 industrial plants of which 29 are in Brazil five in the United States and two in Europe. These units produce thermoplastic resins: polyethylene (PE) polypropylene (PP) and polyvinyl chloride (PVC) as well as basic petrochemicals. Braskem’s business operations consist of four production segments and one distribution segment: Basic Petrochemicals Unit Polyolefins Vinyls United States and Europe and Chemical distribution. Additionally 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.