Fly News Breaks for March 23, 2016
MEOH
Mar 23, 2016 | 07:56 EDT
Jefferies analyst Laurence Alexander raised his price target for Methanex to $41 and keeps a Buy rating on the shares. Trading at 50% of replacement value, the stock is discounting a flatter cost curve, weaker demand and a 2016 "lost year," Alexander tells investors in a research note. If methanol prices need to incentivize new U.S. capacity additions, the analyst estimates Methanex earnings could return to greater than $4.50, compared to his 2020 estimate of $2.40, and a "blue sky" share price of $93.
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