Jefferies Group Lowers Methanex Price Target to $84.00 (MEOH)
Stock analysts at Jefferies Group reduced their target price on shares of Methanex (NASDAQ:MEOH) from $86.00 to $84.00 in a research report issued to clients and investors on Monday. Jefferies Group’s price objective points to a potential upside of 32.20% from the stock’s previous close.
Shares of Methanex (NASDAQ:MEOH) opened at 63.54 on Monday. Methanex has a 52-week low of $42.52 and a 52-week high of $73.43. The stock has a 50-day moving average of $59.96 and a 200-day moving average of $61.89. The company has a market cap of $6.133 billion and a P/E ratio of 14.77.
Methanex (NASDAQ:MEOH) last announced its earnings results on Thursday, May 1st. The company reported $1.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.84 by $0.34. Analysts expect that Methanex will post $4.75 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Methanex from an “outperform” rating to a “neutral” rating in a research note on Friday, June 27th. They now have a $64.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Methanex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 24th. They now have a $73.00 price target on the stock, up previously from $68.00. They noted that the move was a valuation call. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Methanex in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.43.
Methanex Corporation (NASDAQ:MEOH) is a supplier of methanol to international markets in Asia Pacific, North America, Europe and Latin America.
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