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Highlights:
Piper Sandler raises Methanex's price target from $68 to $71, maintaining an "overweight" rating.
Analysts have mixed views, with several revising their price targets and ratings for the stock.
Methanex's stock has shown positive movement, rising 1.4% on recent trading activity.
Methanex Corporation (NASDAQ:MEOH) , a global leader in methanol production and distribution, saw its stock price increase by 1.4% on Tuesday following an update from Piper Sandler. The financial services firm upgraded its stance on the company, raising its price target from $68 to $71, reflecting a potential upside from the stock’s recent price of $44.70. Piper Sandler has maintained an “overweight” rating on the stock, highlighting the company's growth prospects in the specialty chemicals sector.
Methanex's performance has garnered attention from multiple equity research firms. RBC Capital Markets reiterated a “sector perform” rating and set a price target of $55. Barclays also revised its price target to $46, while UBS lowered their target slightly to $53, with a “buy” rating. Other firms, such as Raymond James, adjusted their targets to reflect a more cautious outlook. Overall, the company has received mixed ratings, with three analysts maintaining a "hold" recommendation, while six have assigned a "buy" rating, resulting in an average consensus rating of "Moderate Buy."
In addition to analyst updates, Methanex has been active in the market, with shares continuing to show positive movement. The company has recently experienced institutional support, with hedge funds increasing their stakes in the stock. Notable institutional movements include a significant increase in holdings by Blue Trust Inc. and EverSource Wealth Advisors LLC, which have raised their positions substantially.
Methanex, which operates in key global markets including China, Europe, the U.S., and South America, is a major player in the methanol industry. The company produces methanol and also engages in contracts to purchase methanol from other producers. It owns and leases storage and terminal facilities, further enhancing its supply chain capabilities. Despite the recent price fluctuations, the company remains a significant entity within its sector, with a market capitalization of approximately $3.01 billion.
