RBC Capital downgraded its rating of Methanex MEOH to Sector Perform with a price target of $45.00, changing its price target from $50.00 to $45.00.
Shares of Methanex are trading down 4.94% over the last 24 hours, at $38.38 per share.
A move to $45.00 would account for a 17.23% increase from the current share price.
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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