Braskem resumed with a Buy at BofA » 09:2709/2109/21/21
BofA analyst Frank McGann…
BofA analyst Frank McGann resumed coverage of Braskem with a Buy rating and R$84 price target, or a $32 price target for the U.S. ADRs. He views Braskem as poised to benefit from petrochemical margins that should "stay at attractive levels, though down from recent peaks, as well as an economic recovery and its "leadership in green polyethylene." He still views the valuation as favorable despite the stock's strong price performance, added McGann.
|Over a week ago|
Braskem announces partnership with Gelmart International » 08:0609/1609/16/21
Braskem (BAK) announces…
Braskem (BAK) announces its partnership with Gelmart International, a global manufacturer of intimate apparel. Braskem in supplying its I'm green EVA biopolymer to support production of the world's first-of-its-kind plant-based bra cup sourced from sustainably grown sugarcane. Gelmart's new kindly line of sustainable intimate apparel launched in August and is available exclusively across 3,300 Walmart (WMT) retail stores and online at Walmart.com
Braskem upgraded to Buy from Neutral at UBS » 07:1609/1409/14/21
UBS analyst Luiz Carvalho…
UBS analyst Luiz Carvalho upgraded Braskem to Buy from Neutral with a price target of R$84, up from R$61.
|Over a quarter ago|
Fly Intel: Top five analyst downgrades » 09:5204/2204/22/21
FSR, RIDE, PLNT, SHLS, BAK, WBT
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fisker (FSR) downgraded to Sell from Neutral with Lordstown Motors (RIDE) downgraded to Neutral from Buy at Goldman Sachs. 2. Planet Fitness (PLNT) downgraded to Neutral from Overweight at Piper Sandler with analyst Peter Keith saying the speed of the company's recovery is uncertain and a "bull case" now seems priced into the shares. 3. Shoals Technologies (SHLS) downgraded to Equal Weight from Overweight at Barclays with analyst Moses Sutton telling investors to not "over-concentrate" in U.S. solar heading into the Q1 results. 4. Braskem (BAK) downgraded to Hold from Buy at HSBC with analyst Lilyanna Yang citing valuation. 5. Welbilt (WBT) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jeffrey Hammond seeing the likelihood of another bidder besides Middleby (MIDD) emerging as low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Braskem downgraded to Hold on valuation at HSBC » 06:3504/2204/22/21
HSBC analyst Lilyanna…
HSBC analyst Lilyanna Yang downgraded Braskem to Hold from Buy with a price target of $20, up from $13. The analyst cites valuation for the downgrade but expects Braskem to report "another strong quarter" this Q1 on high petrochems spreads across the Americas.
Braskem downgraded to Hold from Buy at HSBC » 05:1204/2204/22/21
HSBC analyst Lilyanna…
HSBC analyst Lilyanna Yang downgraded Braskem to Hold from Buy with a $20 price target.
Braskem downgraded to Sector Perform from Outperform at Scotiabank » 12:1803/1203/12/21
Scotiabank analyst Ben…
Scotiabank analyst Ben Isaacson downgraded Braskem to Sector Perform from Outperform with an unchanged price target of R$35, equating to a U.S. dollar target of $12.25. Despite a strong finish to the year and what he calls "a knock-out Q1," he is becoming "increasingly cautious about continued outperformance" given that "COVID is nearly out of control in Brazil" as well as the stock's "outstanding run" over the past few months, Isaacson said.
Braskem upgraded to Overweight from Neutral at JPMorgan » 04:4602/2402/24/21
JPMorgan analyst Ricardo…
JPMorgan analyst Ricardo Rezende upgraded Braskem to Overweight from Neutral with a $14 price target.
Braskem, Encina announce collaboration to develop recycled polypropylene » 08:0712/0712/07/20
Braskem announces its…
Braskem announces its collaboration with Encina Development Group to develop a long-term relationship enabling the production of circular, recycled polypropylene. Encina's technology is able to produce renewable chemicals made from post-consumer plastic and the company is targeting to break ground on a new facility in the second half of 2021. Once completed, the facility is targeted to process 175,000 tons of plastic waste, converting it into more than 90,000 tons of recycled chemicals per year. The plant will be designed to expand to 350,000 tons of incoming plastic waste in future phases. Encina's new facility will leverage its proprietary technology that economically extracts chemicals from plastic through catalytic pyrolysis. The process utilizes mixed plastics from post-consumer sources, which are currently costly to recycle and often destined for landfills. As part of the collaboration, Braskem will work closely with Encina to develop the necessary logistics, product quality and certifications for a recycled propylene feedstock that Braskem will use in the production of recycled PP materials in applications such as food packaging, consumer and hygiene products. The parties announce their intent to develop a formal supply agreement prior to the project's financing approval in 2021.
Braskem upgraded to Buy from Hold at Santander » 05:3910/2110/21/20
Santander analyst Christian Audi upgraded Braskem to Buy from Hold with a R$28 price target.