Barclays lowered the firm’s price target on Methanex (MEOH) to $41 from $57 and keeps an Equal Weight rating on the shares as part of a Q1 earnings preview for the chemicals and packaging group. The firm made negative commodity revisions and is “patiently waiting” for a turn. The overhangs on cyclical names are likely not to be addressed this quarter, the analyst tells investors in a research note.
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