Methanex Maintained at Outperform at BMO Following Q4 Results; Price Target Kept at US$65.00

MT Newswires Live03-09

BMO Capital Markets on Monday reiterated its outperform rating on the shares of Methanex (MX.TO, MEOH) and its US$65.00 price target following the company's fourth-quarter results.

"Reiterate Outperform rating on a Q4 release not as positive as many hoped for, despite obvious upside potential from current Middle East tensions. This being said, risk/reward skews to the upside, and we stay constructive. Our target price remains US$65, supported by ~$8/sh FCF this year which we think rises to ~$9/sh next year on a ~$350/t mid-cycle methanol deck (assuming prices move higher than this in Q2E). Our target is ~7.5-8x 2026E EV/EBITDA, but this looks better on 2027E if costs lower. And if methanol prices surge, look out," analyst Joel Jackson wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 71.75, Change: +4.22, Percent Change: +6.25

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