Methanex price target raised to $47 from $44 at CIBC

CIBC analyst Hamir Patel raised the firm’s price target on Methanex (MEOH) to $47 from $44 and keeps an Outperformer rating on the shares following the company’s Investor Day in Toronto. The firm cites a higher 2026 EV/EBITDA multiple assumption given increased confidence in the company’s approach to capital allocation. To drive the multiple recovery embedded in CIBC’s valuation, the firm believes the market will need to see consistent operating performance over the coming year, as well as continued success with integrating the OCI assets. Over the mid- to long term, CIBC continues to foresee a solid supply/demand balance for methanol given steady demand growth and risks of global capacity constraints. Methanex offers strong 2026/2027 free cash flow yields of 13%/16%, it adds.