UPDATE: Raymond James Reiterates on Methanex on Robust Outlook
In a report published Monday, Raymond James analyst Steve Hansen reiterated an Outperform rating on Methanex (NASDAQ: MEOH), and raised the price target from $72.00 to $85.00.
In the report, Raymond James noted, “We are increasing our target price to US$85.00 (vs. $72.00 previously) based upon our robust macro and company-specific outlook. While not factored in explicitly, we are also becoming increasingly enamoured by Methanex's rich optionality (i.e., MLP potential, Chilean recovery). We reiterate our OP2 rating.”
Methanex closed on Friday at $71.03.
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