Methanex price target raised to $53 from $48 at CIBC

CIBC raised the firm’s price target on Methanex to $53 from $48 and keeps a Neutral rating on the shares. CIBC raised its estimates for 2024 and 2025 to reflect higher than previous pricing assumptions, but continues to expect prices to soften modestly in the second half of 2024 with the ramp-up of the G3 and Malaysia greenfield project, the analyst tells investors in a research note.