Methanex (MEOH) Gets a Buy Rating from Jefferies

By Austin Angelo

Jefferies analyst Laurence Alexander maintained a Buy rating on Methanex (MEOHResearch Report) on August 2 and set a price target of $36.00. The company’s shares closed last Monday at $20.46.

According to TipRanks.com, Alexander is a 5-star analyst with an average return of 12.0% and a 69.3% success rate. Alexander covers the Industrial Goods sector, focusing on stocks such as Sherwin-Williams Company, GCP Applied Technologies, and Axalta Coating Systems.

Methanex has an analyst consensus of Moderate Buy, with a price target consensus of $24.20, implying a 23.2% upside from current levels. In a report issued on July 31, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.

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The company has a one-year high of $42.19 and a one-year low of $9.00. Currently, Methanex has an average volume of 685.9K.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is neutral on the stock.

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Methanex Corp. is a producer and supplier of methanol. It operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.