Monness Thinks Methanex Corp.`s Stock is Going to Recover

By George MacDonald

Monness analyst Christopher Shaw reiterated a Buy rating on Methanex Corp. (NASDAQ: MEOH) today and set a price target of $64. The company’s shares closed yesterday at $46.63, close to its 52-week low of $42.32.

Currently, the analyst consensus on Methanex Corp. is Moderate Buy and the average price target is $69, representing a 48.0% upside. In a report published on December 16, TD Securities also upgraded the stock to Buy with a $60 price target.

Methanex Corp.`s market cap is currently $4.35B and has a P/E ratio of 10. The company has a book value ratio of 2.49%.

According to TipRanks, Shaw is a 3-star analyst with an average return of 7.2% and a 69.6% success rate. Shaw covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Koppers Holdings Inc., and Innophos Holdings.

Methanex Corp is engaged in the production and distribution of methanol, a chemical that is used to make a range of industrial, consumer and energy products.