CIBC Capital Markets downgraded its rating on the shares of Methanex (MX.TO, MEOH) to neutral from outperform while raising its price target to US$52.00 from US$46.00 following a run up in the methanol producer's shares.

"As of February 5, we are reducing our rating on Methanex to Neutral (from Outperformer). Since late-November, MEOH has been the best-performing name across our ferts and chems coverage universe, with shares rising 35%, while also outperforming North American chemical peers by ~10%. While we have increased confidence in the company's approach to capital allocation, as well as its ability to deliver more consistent operating performance and successfully integrate the OCI assets over the coming year, we believe that this has largely been reflected in MEOH's share price following the positive momentum over the past two months. Additionally, we see limited upside risks to realized methanol prices as macro headwinds and a tough olefins cycle weigh on demand, pressuring margins amid rising gas costs. As a result, our 2026 EBITDA estimate is 6% lower than consensus," analyst Hamir Patel wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 65.36, Change: +0.93, Percent Change: +1.44