In a report released today, Hassan Ahmed from Alembic Global maintained a Hold rating on Methanex Corp (MEOH), with a price target of $55. The company’s shares closed on Friday at $55.67.
According to TipRanks.com, Ahmed is ranked 0 out of 5 stars with an average return of -6.5% and a 35.0% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Venator Materials Plc, and LyondellBasell.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Methanex Corp with a $65.57 average price target, a 17.8% upside from current levels. In a report issued on February 1, Tudor Pickering also downgraded the stock to Hold.
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Based on Methanex Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $161 million. In comparison, last year the company had a net profit of $68.04 million.
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Methanex Corp. is a producer and supplier of methanol. It operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.
