Methanex price target lowered to $53 from $66 at UBS

UBS lowered the firm’s price target on Methanex (MEOH) to $53 from $66 and keeps a Buy rating on the shares. The firm sees another challenging earnings cycle, with “largely ok” downstream earnings, while upstream/commodity earnings will be impacted by higher costs and likely weaker end of quarter demand, the analyst tells investors in a research note. UBS sees earnings misses to drive stocks down vs. provide relief.