Braskem S.A. (NYSE:BAK) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Braskem S.A. (NYSE:BAK) from a hold rating to a buy rating in a report released on Thursday morning.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Braskem from a strong-buy rating to a hold rating in a report on Tuesday, June 20th. ValuEngine raised Braskem from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $21.33.

Shares of Braskem (NYSE BAK) opened at 21.24 on Thursday. Braskem has a 12 month low of $11.00 and a 12 month high of $23.15. The stock has a 50 day moving average price of $20.31 and a 200-day moving average price of $20.78.

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Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in shares of Braskem by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 16,065 shares of the energy company’s stock valued at $326,000 after buying an additional 139 shares during the period. Comerica Bank boosted its stake in Braskem by 1.5% in the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock worth $211,000 after buying an additional 147 shares during the last quarter. UBS Group AG boosted its stake in Braskem by 5.2% in the first quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock worth $122,000 after buying an additional 297 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in Braskem by 15.4% in the first quarter. Eqis Capital Management Inc. now owns 13,652 shares of the energy company’s stock worth $278,000 after buying an additional 1,818 shares during the last quarter. Finally, Allianz Asset Management AG boosted its stake in Braskem by 7.2% in the fourth quarter. Allianz Asset Management AG now owns 40,400 shares of the energy company’s stock worth $857,000 after buying an additional 2,700 shares during the last quarter. 0.97% of the stock is currently owned by institutional investors and hedge funds.

About Braskem

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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