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Fly News Breaks for February 24, 2017
MEOH
Feb 24, 2017 | 07:46 EDT
Raymond James analyst Steve Hansen upgraded Methanex to Outperform and raised its price target to $60 from $53 based upon recent industry developments and a surge in global methanol prices. Hansen said unexpected plant outages in Iran and Oman continue to add to upside pressure to regional spot markets and reflect a common pattern of vulnerability and raises questions about the ability of future greenfield capacity to operate. The analyst expects current prices to hold longer-than-expected, and when they do pullback, to settle much higher than previously expected.
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