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Fly News Breaks for September 12, 2017
MEOH
Sep 12, 2017 | 05:19 EDT
Jefferies analyst Laurence Alexander raised his price target for Methanex shares to $60 ahead of the company's investor day. Methanol prices have rallied in September due to outages and stronger than expected seasonal demand, Alexander tells investors in a research note. The analyst believes, however, that the rally could be short lived as new capacity comes in Q4 and the first half of 2018. He thinks the investor day could set the stage for a capital return story and keeps a Buy rating on Methanex.
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