Methanex price target lowered to $54 from $58 at UBS

UBS analyst Joshua Spector lowered the firm’s price target on Methanex to $54 from $58 and keeps a Buy rating on the shares. The firm sees the OCI deal as a longer term positive and views Methanex shares as attractive, telling investors in a research note that ultimately, Methanex is adding more than 20% of low cost U.S. capacity for less than a new build cost, and the EV gross cash yield on the deal was more attractive than buying back stock.