UPDATE: UBS Downgrades Methanex (MEOH) to Sell

October 31, 2016 8:08 AM EDT
Get Alerts MEOH Hot Sheet
Price: $43.65 +0.58%

Rating Summary:
    5 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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(Updated - October 31, 2016 10:44 AM EDT)

UBS downgraded Methanex (NASDAQ: MEOH) from Neutral to Sell with a price target of $31 on valuation.

Analyst John Roberts said, "We are downgrading MEOH to Sell as we believe the stock more than reflects the improvement in methanol prices. MEOH has rallied ~30% on higher oil prices, which methanol often follows as evidenced by increasing posted and spot pricing. UBSe 2017 Brent oil price forecast remains unchanged at $60/bbl, & is reflected in our improved 2017e EPS of $0.50 (up from $0.50 loss in 2016e) & 2017e EBITDA of $443M (up from $256M in 2016e). Our valuation basis remains unchanged at ~9.5x 2017e EBITDA which we believe reflects the bottoming market and improvements in 2017."

For an analyst ratings summary and ratings history on Methanex click here. For more ratings news on Methanex click here.

Shares of Methanex closed at $37.06 yesterday.



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