Methanex price target lowered to $47 from $56 at Jefferies

Jefferies analyst Laurence Alexander lowered the firm’s price target on Methanex to $47 from $56 and keeps a Buy rating on the shares, noting that he is trimming estimates to better reflect headwinds from elevated natural gas prices in Q4. The ban on Russian methanol will likely bolster demand beginning in Q2, but this "will probably only partly offset overall macro weakness," said Alexander, who adds that North American demand is currently intact, but "a downturn seems likely."