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Fly News Breaks for September 9, 2019
MEOH
Sep 9, 2019 | 05:45 EDT
Barclays analyst Michael Leithead lowered his price target for Methanex to $39 from $53 to reflect a weaker price environment. Given the "steady" pricing declines throughout the summer, the analyst now models Q3 realized methanol price of ~$280/mt as compared to $326/mt in Q2 and $413/mt in Q3 of last year. Pricing remains challenged, as stagnant demand coupled with excess supply has driven methanol prices to three-year lows, Leithead tells investors in a research note. He keeps an Equal Weight rating on shares of Methanex.
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