Methanex price target raised to $60 from $50 at Jefferies

Jefferies analyst Laurence Alexander raised the firm’s price target on Methanex (MEOH) to $60 from $50 and keeps a Buy rating on the shares. Near-term methanol supply is tightening amid Middle East disruptions, notes the analyst, who sees constraints in New Zealand and potential seasonal curtailments in Egypt as likely to limit the ability of other producers to offset lost Middle East supply, keeping balances tight and supporting higher spot prices in Asia and Europe.