Methanex (MX.TO) maintained its Sector Perform rating and US$55 price target, RBC Capital Markets said in a Thursday note.
RBC said Methanex posted "solid" results in the fourth quarter of 2024 and "made progress" toward closing the OCI acquisition, which may happen in the second quarter of 2025.
RBC said it sees the prospect of an accelerated deleveraging timeline for Methanex due to the prevailing tight methanol supply conditions supporting strong methanol prices.
"Despite these positive items, we maintain our Sector Perform rating on the shares, as there are some uncertainties ahead, including potential U.S. tariffs and trade wars (indirect impact) as well as potential easing of tight supply conditions in the coming months," RBC said.
RBC lowered its 2026 adjusted EBITDA estimate for Methanex to US$1.18 billion from US$1.26 billion, primarily to reflect CMA's updated methanol price forecast. It kept the 2025 estimate of US$997 million.
Methanex's share price was up 1% at last look Friday to C$75.68 on the TSX
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