Braskem (NYSE:BAK) Shares Gap Down on Analyst Downgrade

Shares of Braskem S.A. (NYSE: BAK - Get Free Report) gapped down before the market opened on Thursday after Bank of America downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $4.24, but opened at $3.97. Bank of America now has a $2.80 price target on the stock.