RBC Capital analyst Nelson Ng lowered his price target on Methanex to $65 and kept his Sector Perform rating to reflect the updated methanol price forecast by the IHS with a slightly stronger near term view and a weaker longer-term view, also lowering his FY20 expected adjusted EBITDA to $858M from $933M. The analyst adds that the company's decision to move ahead with Geismar 3 development is not surprising given its history of a "balanced approach to capital allocation", but states that in spite of the project's attractive economics, he prefers to await more visibility in the market.