National Bank Financial Upgrades Methanex (TSE:MX) to Strong-Buy

Key Points

• National Bank Financial has upgraded Methanex (TSE:MX) to a "strong-buy" rating, reflecting positive sentiment from analysts on its future performance.
• Other analysts, including Raymond James Financial and Royal Bank of Canada, have also given favorable ratings, with average target price estimates around C$46.50.
• Methanex shares were trading at C$55.41, showing a 3.8% increase, as the company continues to establish itself within the methanol manufacturing market.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH was upgraded by stock analysts at National Bank Financial to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on MX. Raymond James Financial set a C$40.00 price objective on shares of Methanex and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada raised shares of Methanex from a "hold" rating to a "moderate buy" rating in a report on Friday, August 1st. Finally, Scotiabank set a C$53.00 target price on shares of Methanex and gave the company an "outperform" rating in a report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Strong Buy" and an average target price of C$46.50.

Methanex Trading Up 3.8%

Shares of MX opened at C$55.41 on Thursday. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59. Methanex has a 1 year low of C$36.10 and a 1 year high of C$78.18. The company has a 50 day simple moving average of C$49.38 and a two-hundred day simple moving average of C$47.17. The firm has a market cap of C$4.29 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel.

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