Zacks Investment Research upgraded shares of SUMITOMO CHEM C/ADR (OTCMKTS:SOMMY) from a hold rating to a strong-buy rating in a research report report published on Thursday, Zacks.com reports. The firm currently has $27.00 price target on the stock.
According to Zacks, “Sumitomo Chemical Co., Ltd. engages in the manufacture and sale of chemicals. Its operating segments consists of Basic Chemicals, Petrochemicals and Plastics, Information Technology related Chemicals, Health and Crop Sciences, Pharmaceuticals and Others. Basic Chemicals segment produces organic and inorganic chemicals, synthetic fiber raw materials, methyl methacrylate products, alumina products, additives and dyestuffs. Petrochemicals and Plastics segment consists of synthetic resin, rubber and other resin processed products. IT-Related Chemicals segment sells optical products, color filters, semiconductor processing materials, compound semiconductor materials and battery components. Health and Crop Sciences segment distributes fertilizers, pesticides, insecticides, tropical infectious disease control materials and feed additives. Pharmaceuticals segment develops and sells ethical pharmaceuticals, radiopharmaceutical and radiation therapy equipment. Others segment provides supply of electrical power and stea “
Shares of SOMMY stock traded up $0.29 during trading hours on Thursday, reaching $23.97. 1,652 shares of the company were exchanged, compared to its average volume of 19,122. The stock’s fifty day moving average is $22.07 and its two-hundred day moving average is $23.08. SUMITOMO CHEM C/ADR has a fifty-two week low of $21.11 and a fifty-two week high of $30.11.
Sumitomo Chemical Company, Limited engages in petrochemicals and plastics, energy and functional materials, IT-related, chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide. Its Petrochemicals & Plastics segment offers synthetic resins, such as polyethylene, polypropylene, and methyl methacrylate resins; raw materials for synthetic fibers; and various industrial chemicals.
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