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Methanex in Proper Value Range

December 02, 2008 | Comments: 0
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Methanex Corp. (MEOH - Analyst Report) is the world’s largest supplier of methanol. Headquartered in Vancouver, British Columbia, Canada, Methanex has production facilities in Chile, Trinidad and New Zealand. The company is benefiting from improving fundamentals. New applications for methanol imply strong future growth. Potential markets for methanol include dimethyl ether and bio-diesel businesses.

However, the company is afflicted by natural gas supply shortages and rising energy costs. It saw production declines of 30,000 tons of methanol at its Trinidad facility and abandoned operations at its Waitara Valley facility in New Zealand. Methanex also incurred negative cash margins on reselling methanol purchased from other producers. Further, the current global financial crisis has lowered demand for the company’s products. This forces us to rate the stock a Hold with a target of $10.50.

Read the full analyst report on MEOH



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