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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (98749)	12/1/2020 8:24:12 AM
From: Goose94	Read Replies (2) of 202691

Methanex (MX-T) posted higher reference pricing for December, RBC Dominion Securities analyst Nelson Ng raised his financial expectations for the company (all figures U.S.). Mr. Ng elevated his share target for Methanex to $48 from $35, with an unchanged "outperform" rating. Analysts on average target the shares at $32.23. Mr. Ng says in a note: "Methanol prices continue their fast pace of recovery, and we still see good upside in the shares as global economies and oil prices recover from the COVID-19 pandemic. A key risk is severity of a second wave, the timing and availability of vaccines, and the actions taken by governments to mitigate the impact of the pandemic. ... Methanex estimates that before growth capex (e.g., G3 spending) the company begins to generate positive free cash flow at methanol prices around $240-250 per metric ton. This compares to our realized methanol price forecast of $271 and $288 in 2021 and 2022. If methanol prices remain at current levels, we expect the company to move forward with the G3 project."

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