Barclays says that while one plant being down for less than one quarter shouldn’t be worth 12% of Methanex (MEOH) shares, there are two other considerations. The second autothermal reformer issue at Geismar 3 in a year potentially raises operational questions while falling spot methanol prices despite unplanned disruptions reinforce a weak demand backdrop, the analyst tells investors in a research note. Barclays keeps an Equal Weight rating on Methanex with a $57 price target
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Read More on MEOH:
- Methanex price target lowered to $64 from $68 at Jefferies
- Methanex: Undervalued with Strong Long-Term Prospects Despite Short-Term Challenges
- Methanex Announces Geismar 3 Plant Outage and Maintenance Update
- Methanex stock cheap, but ATR issue raises questions, says Barclays
- Methanex downgraded at Scotiabank citing three reasons
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