TD Securities Upgrades Methanex (MEOH) to Buy

February 1, 2021 9:30 AM EST
Get Alerts MEOH Hot Sheet
Price: $39.79 +6.62%

Rating Summary:
    8 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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TD Securities analyst Cherilyn Radbourne upgraded Methanex (NASDAQ: MEOH) from Hold to Buy with a price target of $46.00 (from $50.00).

The analyst comments "Methanex expects 2021 production to be similar vs. 2020 production of 6.6mm tonnes, based on lower-than-expected gas availability in New Zealand, Trinidad, and Chile. Our sense is that gas availability in New Zealand is more of a structural issue, whereas we believe that gas availability in Trinidad and Chile has been partially impacted by COVID-19 (deferred maintenance and reduced drilling activity)."

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 $33.60 yesterday.

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