Fly News Breaks for October 2, 2019
Oct 2, 2019 | 06:33 EDT
RBC Capital analyst Nelson Ng upgraded Methanex to Outperform with a price target of $50, saying the investor sentiment on the stock has or is near its bottom. The analyst also cites the company's decision to proceed with Geismar 3 expansion in spite of a weak methanol price environment, adding that the stock should offer good implied upside particularly for investors who are bullish on the global economy and an improvement in U.S. trade talks with China.
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