What Will The Effects of a HSBC Downgrade Be For Shanghai Petrochemical (SHI) Shares?

May 21, 2018 - By Hazel Jackson

Shanghai Petrochemical (SHI) Receives a Downgrade

HSBC lowered their rating for shares of Shanghai Petrochemical (SHI) from Buy to Hold in a report that was revealed on Monday morning.

The stock increased 2.80% or $1.94 during the last trading session, reaching $71.33. About 31,528 shares traded or 1.36% up from the average. Sinopec Shanghai Petrochemical Company Limited (SHI) has risen 7.42% since May 21, 2017 and is uptrending. It has underperformed by 4.13% the S&P500.

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, makes and sells petrochemical products in the People's Republic of China. The company has market cap of $8.41 billion. The firm operates through five divisions: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products. It has a 7.93 P/E ratio. The Synthetic Fibres segment produces polyester, acrylic fibers, and carbon fibers, which are primarily used in the textile and apparel industries.

Sinopec Shanghai Petrochemical Company Limited (NYSE:SHI) Ratings Chart

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