Sinopec Shanghai Petrochemical Co. (NYSE:SHI) has been given an average rating of “Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $71.00.
Several equities analysts recently commented on SHI shares. Citigroup upgraded shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a research note on Tuesday, February 27th. ValuEngine cut shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 28th.
Sinopec Shanghai Petrochemical (SHI) opened at $59.67 on Tuesday. The company has a market cap of $6,494.04, a price-to-earnings ratio of 7.34 and a beta of 0.65. Sinopec Shanghai Petrochemical has a one year low of $50.67 and a one year high of $64.43.
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About Sinopec Shanghai Petrochemical
Sinopec Shanghai Petrochemical Company Limited (Shanghai Petrochemical) is a petrochemical company. The Company and its subsidiaries are principally engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company operates in five operating segments.
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