- Methanex (MEOH +4.7%) is upgraded to Outperform from Market Perform with a $40 price target, raised from $32, at Raymond James, which expects current North American methanol price dislocations to fade in coming months.
- The firm expects the price discount to China to fall in the coming months, followed by a broader market increase in H2 2016.
- With MEOH poised to capitalize on the pricing recovery, the firm sees potential upside to both earnings and free cash flow as oil prices recover.