According to The Fly, methanex (MX), the Consumer Goods sector company, has received a rating update from a Wall Street analyst today. Analyst Hassan Ahmed from Alembic Global rated Methanex (MX) a Buy.
Ahmed wrote:
“We are raising our 2019 EPS estimate for MEOH, which triggers an uptick in our 12-month target price, to USD85 per share from USD80. We expect the company’s free cash flow yield to average 15.5% over the 2018 through 2022 timeframe and for Methanex to cumulatively generate around 77% of its current market capitalization in free cash, highlighting the shares’ attractiveness at current valuation levels. We are reiterating our Overweight rating on Methanex shares and raising our 12-month target price to USD85 from USD80.”
According to TipRanks.com, Ahmed is a 1-star analyst with an average return of -1.1% and a 42.1% 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 Strong Buy analyst consensus rating for Methanex.
Methanex’s market cap is currently C$6.5B and has a P/E ratio of 11. The company has a Price to Book ratio of 3.46.
Methanex Corp. is a producer and supplier of methanol. The company through its subsidiary, Waterfront Shipping Co. Ltd. operates the methanol ocean tanker fleet. Methanex was founded on March 11, 1968 and is headquartered in Vancouver, Canada.
The company’s shares closed on Friday at C$82.92.
