Analysts at RBC Capital provided their views on Methanex Corporation (NASDAQ:MEOH), noting they continue to see recessionary uncertainties and the potential for lower methanol prices in 2023, which could pressure the company’s shares.
Methanex recently released its North American, Asian Pacific, and China non-discounted methanol reference prices for January at $575/MT (unchanged from December), $410/MT (unchanged), and $370/MT (down 6% from December), respectively.
The analysts revised their 2022, 2023, and 2024 adjusted EBITDA estimates to $933, $621 and $675 million, respectively (from $949, $525, and $914 million, respectively). The analysts maintained their Sector Perform rating and $45 price target on the company’s shares.