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Braskem S.A. (BAK) Q4 2023 Earnings Call Transcript

Brazil's state-run oil company Petrobras wants a partner to share the management of petrochemical producer Braskem , said the oil firm's Chief Executive Jean Paul Prates on Tuesday.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Braskem (BAK) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Braskem is the largest plastic producer in the Western Hemisphere. The company has been a takeover target for the last few years. In November, Abu Dhabi National Oil Company offered BRL37.29 per share. That means 100% upside potential from the current stock prices. The political and industry tailwinds are more supportive of the deal's completion than ever. PBR's CEO expects the deal to take place in 1Q24.

The city hall of Brazil's northeastern city of Maceio has asked to negotiate a new compensation agreement with petrochemical firm Braskem over the expansion of a risk area linked to sinking ground in the city, it said on Wednesday.

Brazilian petrochemical producer Braskem said on Thursday that Abu Dhabi's oil company ADNOC (ADNOC.UL) has presented a fresh non-binding offer to buy conglomerate Novonor's stake in the firm.

I sold my position in Braskem after the involvement of Novonor and Petrobras in a recent deal. My strategy of selling and rotating at the right time has protected my profits and capital in the past. The article will provide an update on the negative return on investment for Braskem and discuss the implications for the investment thesis.

Braskem faces challenges within the petrochemical economic cycle, with product spreads below historical averages and complex stake sale negotiations. Novonor's exit from Braskem's control is uncertain and potential hurdles related to share transfers and Petrobras' involvement. Braskem's valuation complexity lies in commodity price sensitivity. Despite the potential upside, speculation and industry downturn advise caution.

Brazilian state-run oil company Petrobras is not planning to sell its 36% stake in petrochemical firm Braskem , newspaper Valor Economico reported on Thursday, citing unnamed sources.