12 Best NYSE Penny Stocks to Buy According to Analysts

6. Braskem SA (NYSE:BAK)

Price as of March 7: $3.64

Analysts upside potential as of March 7: 107.42%

Number of Hedge Fund Holders In Q4 2024: 13

Braskem SA (NYSE:BAK) is a Brazilian petrochemical company with operations in the Americas and Europe. Its main products are polyethylene, polypropylene, polyvinyl chloride, olefins and aromatics, and a range of solvents.

In its fourth quarter 2024 production and sales report, Braskem SA’s (NYSE:BAK) operational performance was mixed across regions. In Brazil, the ethylene utilization rate was 70%, with sales volumes of 686 kton for main chemicals and 810 kton for resins. The green ethylene utilization rate was 77%. Resin sales volume in this market decreased by 7% compared to the previous quarter but increased by 3% year-over-year.

Despite the setbacks, the company recently announced plans to expand the capacity of its petrochemical plant in Rio de Janeiro by 220,000 tons of ethylene per year. This project is part of a broader transformation strategy aimed at increasing the use of gas in the feedstock matrix to improve competitiveness. Braskem SA (NYSE:BAK) also entered a 30-year partnership with Aegea Saneamento e Participações S.A. to supply reused water to its industrial unit in Duque de Caxias, Rio de Janeiro. The goal is to enhance water security for the company’s operations in the region.

According to management, the Q4 2024 financial position is a bit disappointing because of issues like the operational instability at the Rio Grande do Sul petrochemical plant. However, this problem has since been resolved, and proper contingencies have been installed. They also admit that lower demand for resins in the Brazilian market, attributed to a slowdown in industrial economic activity and high interest rates, affected performance. But the global resin market is on the mend, which should lift local demand. As such, analysts project a 107.42% upside potential for the stock.