Methanex price target lowered to $48 from $50 at Scotiabank

Scotiabank lowered the firm’s price target on Methanex (MEOH) to $48 from $50 and keeps an Outperform rating on the shares. Following Q3 results, Methanex remains a top pick for Scotiabank under its Chemicals coverage, the analyst tells investors. The firm lowered its price target on the stock due to low Q3 EBITDA moving B/S leverage “in the wrong direction.”