Methanex price target lowered to $50 from $55 at RBC Capital

RBC Capital lowered the firm’s price target on Methanex (MEOH) to $50 from $55 and keeps a Sector Perform rating on the shares after its Q1 results. Shares of Methanex are trading at a discount, pricing in a recession, and offer attractive upside potential to investors who are more constructive on the U.S. trade war and global economy, the analyst tells investors in a research note. RBC adds however that its reduced price target reflects ongoing uncertainties around U.S. tariffs, potential recession, and lower near-term methanol prices.