STXNEWS LATAM-Credit Suisse sees stronger demand lifting Braskem
Credit Suisse analysts led by Vinicius Canheu affirmed their "outperform" rating for Brazilian petrochemical company Braskem SA in a recent note. A more stable currency and early signs of rising demand in January and February have helped Braskem pass along international prices to Brazilian customers, wrote Canheu.
The bullish outlook followed headwinds in the fourth quarter, when Braskem's operating profit slipped due to a currency swing and rising raw material costs that the company struggled to pass through to the Brazilian market.
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