Methanex (MEOH) PT Lowered to $38 at Cowen
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Cowen analyst Charles Neivert lowered the price target on Methanex (NASDAQ: MEOH) to $38.00 (from $39.00) while maintaining a Market Perform rating.
The analyst commented, "The significant headwinds we anticipate in the global ethylene and derivative markets may cap both volume and pricing upside for methanol through much of 2020. This issue, coupled with slowing economic growth, has led us to revise our estimates and price target downward. PT to $38 from $39. MEOH reports 3Q19 results after the close on October 30."
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