Methanex Corporation (MEOH) : 6 brokerage houses believe that Methanex Corporation (MEOH) is a Strong Buy at current levels. Zacks Investment Research suggests a Strong Sell with a rank of 5.The median of all the 6 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.
Methanex Corporation (MEOH) stock is expected to deviate a maximum of $3.2 from the average target price of $38.08 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $34.
Also, Citigroup maintains its rating on Methanex Corporation (NASDAQ:MEOH). The global brokerage major lowers the current price target from $31 per share to $30 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 1, 2016.
Methanex Corporation (NASDAQ:MEOH): After opening at $29.25, the stock dipped to an intraday low of $29.115 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $29.85 and the buying power remained strong till the end. The stock closed at $29.48 for the day, a gain of 0.82% for the day session. The total traded volume was 606,465. The stocks close on the previous trading day was $29.24.
Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific, North America, Europe and South America. The Company operates three production facilities in New Zealand, which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad, Titan and Atlas, supply methanol markets in North America, Europe, Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt, located on the Mediterranean Sea, supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat, Alberta, supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.