Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) had its price objective upped by investment analysts at Barclays from $46.00 to $54.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price suggests a potential upside of 10.11% from the stock’s current price.
A number of other research firms have also commented on MEOH. Raymond James raised their price objective on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research report on Monday, January 6th. UBS Group decreased their price objective on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, CIBC reiterated an “outperformer” rating and issued a $59.00 target price (up previously from $48.00) on shares of Methanex in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.00.
Check Out Our Latest Research Report on Methanex
Methanex Price Performance
Institutional Investors Weigh In On Methanex
Several institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in Methanex in the 3rd quarter worth approximately $40,000. Blue Trust Inc. grew its holdings in Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 896 shares during the last quarter. Squarepoint Ops LLC bought a new position in Methanex in the 2nd quarter worth approximately $201,000. Legacy Wealth Asset Management LLC acquired a new position in shares of Methanex during the fourth quarter worth approximately $220,000. Finally, Entropy Technologies LP bought a new stake in shares of Methanex in the fourth quarter valued at approximately $240,000. Institutional investors and hedge funds own 73.49% of the company’s stock.
About Methanex
Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.
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