Bank of America and Braskem Shares Fall Amid Analyst Downgrades

Bank of America Corp. (NYSE:BAC) slipped 2.4% on Wednesday, touching a low of $60.91 before ending near $61.09. Analysts noted mixed sentiment: JPMorgan lifted its price target to $68, while Daiwa raised its target to $61 and rated the stock overweight. Broader market concerns about possible higher Fed rates added pressure to the banking sector.

Brazilian petrochemical firm Braskem S.A. (NYSE:BAK) fell to a new 52‑week low of $2.22, closing at $2.265. The decline followed a wave of analyst downgrades, including a move to “sell” by Citigroup and a “strong‑sell” consensus rating with a $3.40 price target. The company reported earnings of $0.69 per share, beating estimates, but posted a negative net margin and return on equity.

Both companies saw their shares retreat amid heightened scrutiny from analysts and investors, reflecting broader volatility in the financial and commodities markets.