Methanex price target raised to $70 from $65 at BMO Capital

BMO Capital analyst Joel Jackson raised the firm’s price target on Methanex (MEOH) to $70 from $65 and keeps an Outperform rating on the shares as part of a broader research note on Fertilizers & Chemicals. The firm believes that higher nitrogen, phosphate, sulfur and methanol prices will persist for a few months before coming down over a year to pre-war levels, the analyst tells investors in a research note. Spot prices are still well below prior peaks and incremental industry shocks are still possible, BMO added.