Analysis: Methanex Corporation (NASDAQ:MEOH) Stock Target Raised Today
In analysts note sent to clients and investors by Jefferies & Co on Friday morning, the firm, Methanex Corporation (NASDAQ:MEOH), had their price target lowered to $38.00. Analusts at present have a solid “Buy” rating on the stock.
From a total of 12 analysts covering Methanex Corporation (NASDAQ:MEOH) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $80 while the lowest target price is $43. The mean of all analyst targets is $49.67 with a 57.92% above today’s ($31.94) stock price. Methanex Corporation was the topic of 18 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Raymond James downgraded shares on December 14 to “Mkt Perform” rating. Raymond James downgraded shares to “Outperform” rating and $55 target share price in a report from an August 19. Howard Weil upgraded MEOH stock in a recent report from July 27 to “Outperform” rating.
The stock decreased 0.25% or $0.08 on December 18, striking $31.94. Approximately 531,879 shares of stock traded hands. Methanex Corporation (USA) (NASDAQ:MEOH) has declined 45.31% since May 15, 2015 and is downtrending. It has underperformed by 41.50% the S&P500.
Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific, North America, Europe and South America. The company has a market cap of $2.96 billion. The Firm operates three production facilities in New Zealand, which supply methanol primarily to clients in Asia Pacific. It has 9.17 P/E ratio. The Company’s two plants in Trinidad, Titan and Atlas, supply methanol markets in North America, Europe, Asia Pacific and South America.
According to Zacks Investment Research, “Methanex Corp. is a Vancouver based company engaged in the worldwide production and marketing of methanol. Methanol, made from natural gas, is a basic chemical building block used to manufacture products such as formaldehyde, MTBE, acetic acid and others. The Company operates production facilities in Canada, the United States, New Zealand and Chile. The Company also markets additional methanol from plants in the US, Trinidad and Europe.”