Braskem SA (BAK) Company Overview

Here is how Braskem (BAK) and National Fuel Gas (NFG) have performed compared to their sector so far this year.

PBPB, BBCP, BAK, NVAX and ETON have been added to the Zacks Rank #1 (Strong Buy) List on January 28, 2024.

Braskem NYSE: BAK is the largest producer of thermoplastic and bioplastic resins in the Americas, making the stock a compelling investment opportunity for those seeking to align their portfolios with a sustainable future. The company's strategic positioning at the forefront of the developing bioplastics market makes it a top pick for investors prioritizing environmental, social, and governance (ESG) factors, especially given the global shift towards sustainability and the significant transition in the plastics and packaging sectors.

Braskem (BAK) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here is how Braskem (BAK) and Kinder Morgan (KMI) have performed compared to their sector so far this year.

Braskem (BAK) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Braskem S.A.'s strategies to lower emissions and develop sustainable chemicals are likely to attract significant interest from ESG investors, enhancing stock demand. The company's asset optimization initiatives and transactions, such as the 2024 asset sale to Solví and GRI, are expected to positively impact financial statements. Investments in research and development, including a new Renewable Innovation Center in Massachusetts, are anticipated to drive innovation and free cash flow margin growth.

The heavy selling pressure might have exhausted for Braskem (BAK) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Brazil's government and several of its largest commercial banks are working on a plan to speed the divestment of engineering group Novonor's majority stake in Braskem , Latin America's largest petrochemical company, according to six people familiar with the talks.