4. Braskem (BAK) is a producer of thermoplastic resins worldwide. Besides, it also produces ethylene, polyethylene and polypropylene in Brazil. Braskem operations consist of four production business units and one distribution business unit. The stock leaped 6.3% last week.
During the past week, the company recorded a sequential growth of 25% to $0.74 billion for the second quarter 2011. Consolidated net revenue rose 24% year-over-year to $5.16 billion. Net income for the quarter stood at $258 million, indicating an increase of 38% from the first quarter of 2011.
For the third quarter of 2011, Braskem expects a recovery in resin-naphtha spreads in the international market. Looking ahead to 2011, the company estimates to maintain its ethylene capacity utilization rate at around 87%, stable compared to 2010. With the medium and long term outlook of the petrochemical industry remaining positive, the company maintains its commitment to sustainable growth and development.Of the nine analysts covering the stock, 33% recommend a hold while the rest rate a buy on it. There are no sell ratings on the stock. Analysts polled by Bloomberg project 41.6% upside to $28.80 in value from current levels.
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