Methanex (MEOH) is likely past the peak in methanol pricing as Iran tensions have eased and shipping through the Strait of Hormuz has cautiously resumed, RBC analysts said in a note Tuesday.

The analysts said the company reported mixed methanol reference prices for July and Q3, noting that it kept its North American reference price unchanged, lowered its China and Asia Pacific prices to $525 per metric tonne, or MT, and $620/MT, respectively, and increased its European reference price for Q3 to 915 euros/MT, or about $1,042/MT.

"We expect methanol prices to moderate in H2/26 through 2027, but remain above pre-Iran war levels," the analysts said, adding that their current 2027 methanol price forecast is $403/MT, which is 17% higher than the February 2026 forecast of $343/MT.

The analysts said they are increasing their earnings before interest, taxes, depreciation, and amortization forecast to $1.69 billion for 2026 and $1.50 billion for 2027, up from previous forecasts of $1.62 billion and $1.49 billion, respectively. The higher forecasts reflect the company's non-discounted methanol reference prices, updated methanol price assumptions from CMA, and the idling of the Titan facility, they added.

RBC lowered its price target on Methanex to $65 from $70 while keeping its sector perform rating.

Price: 45.75, Change: -0.40, Percent Change: -0.87