Bank of America Securities analyst Leonardo Marcondes maintained a Hold rating on Braskem S.A. on August 28 and set a price target of BRL12.00.
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Leonardo Marcondes’s rating is based on a combination of factors affecting Braskem S.A. The recent approval of provisional antidumping duties on polyethylene imports from the US and Canada is a positive development for Braskem, as it may lead to short-term operational improvements. However, the investigation is still ongoing, and its final outcome remains uncertain, which adds a layer of risk.
Moreover, while the potential financial benefits from these measures are estimated to be significant, they are not guaranteed, especially if the higher import tariff is not renewed. Additionally, the potential impact of Draft Bill 892, which could increase Braskem’s EBITDA significantly, is still subject to legislative processes. These uncertainties contribute to the Hold rating, as the stock’s future performance is contingent on several unresolved regulatory and market factors.
According to TipRanks, Marcondes is an analyst with an average return of -9.3% and a 33.33% success rate.