JP Morgan Downgrades Braskem to Neutral, Lowers Price Target to $11
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Ricardo Rezende has downgraded Braskem (NYSE:BAK) from Overweight to Neutral and lowered the price target from $11.5 to $11.
July 05, 2023 | 9:47 am
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NEGATIVE IMPACT
Braskem's rating has been downgraded from Overweight to Neutral by JP Morgan, with a lowered price target from $11.5 to $11.
The downgrade from JP Morgan, a major financial institution, could negatively impact investor sentiment towards Braskem. The lowered price target suggests that the analyst sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100