In a report released today, Michael Leithead from Barclays maintained a Buy rating on Methanex (MEOH – Research Report), with a price target of $56.00. The company’s shares closed last Friday at $48.23.
According to TipRanks, Leithead is a 4-star analyst with an average return of 5.9% and a 59.59% success rate. Leithead covers the Basic Materials sector, focusing on stocks such as Westlake Chemical, Chemours Company, and Methanex.
Methanex has an analyst consensus of Moderate Buy, with a price target consensus of $55.22, representing a 14.49% upside. In a report released on April 29, Scotiabank also maintained a Buy rating on the stock with a $58.00 price target.
Based on Methanex’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $922.42 million and a net profit of $62.62 million. In comparison, last year the company earned a revenue of $869.8 million and had a net profit of $41.03 million
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Methanex (MEOH) Company Description:
Methanex Corp. is a producer and supplier of methanol. It operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.
Read More on MEOH:
- Methanex price target raised to $58 from $54 at Scotiabank
- Methanex Welcomes New Director, Shareholders Approve Proposals
- Methanex Shareholders Show Strong Support at AGM
- Methanex Reports on Annual General Meeting of Shareholders and Welcomes Roger Perreault to Its Board of Directors
- Methanex Announces Quarterly Dividend Payout
