Methanex upgraded at Raymond James as methanol price discount fades

Mar. 02, 2016 11:29 AM ETMethanex Corporation (MEOH)MEOHBy: Carl Surran, SA News Editor
  • 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.
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