Barclays Maintains Overweight Rating for Methanex: Here's What You Need To Know

Barclays Maintains Overweight Rating for Methanex: Here's What You Need To Know

Barclays has decided to maintain its Overweight rating of Methanex MEOH and raise its price target from $60.00 to $63.00.

Shares of Methanex are trading up 1.89% over the last 24 hours, at $51.11 per share.

A move to $63.00 would account for a 23.26% increase from the current share price.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines. China generates the most revenue of any geographical segment.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-AAR-UPDATEAnalyst Ratings