Methanex shares are trading lower after Barclays downgraded the stock from Overweight to Equal-Weight and lowered its price target from $56 to $44.
Portfolio Pulse from Benzinga Newsdesk
Methanex shares fell after Barclays downgraded the stock from Overweight to Equal-Weight and reduced its price target from $56 to $44.
September 10, 2024 | 2:09 pm
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Barclays downgraded Methanex from Overweight to Equal-Weight and reduced its price target from $56 to $44, leading to a decline in share price.
The downgrade by Barclays from Overweight to Equal-Weight suggests a less optimistic view on Methanex's future performance. Additionally, the reduction in the price target from $56 to $44 indicates a lower expected valuation, which typically results in a negative market reaction. This has led to a decrease in Methanex's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100