Methanex (NASDAQ:MEOH) Upgrade of Rating

Raymond James boosted the shares of Methanex (NASDAQ:MEOH) from a “Mkt Perform” rating to “Outperform” rating in an analyst report released on Friday morning.

The stock upgrade is well received by investors, as NASDAQ:MEOH is right now trading 2.90% higher at $52.33 as of 2:03 AM New York time. Methanex shares have [From2] 0% in the past 200 days, while the S&P 500 Index has risen 14.82% in the same time.

Out of 12 analysts covering Methanex, 6 rate it a Buy, 6 indicate a Hold while 0 suggest a Sell. The highest target is $55 and the lowest is $35 according to Thomson/First Call. The 12-month mean target is $40.29, which means downside potential of 23.01% over the current price.

Methanex (NASDAQ:MEOH) Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Methanex (NASDAQ:MEOH) traded up 2.90% on 24 February, hitting $52.33. A total of 348,262 shares of the company’s stock traded hands. This is down from average of 811,911 shares. Methanex has a 52 week low of $26.83 and a 52 week high of $52.85. The company has a market cap of $4.62 billion and a P/E ratio of 0.

Get the latest Methanex (NASDAQ:MEOH) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Methanex (NASDAQ:MEOH) was Upped by Analysts at Raymond James from a “Mkt Perform” Rating to “Outperform” One appeared first on Octafinance.