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TMCNet: Methanex Shares Fall After Downgrade (MEOH)

[June 26, 2012]

Methanex Shares Fall After Downgrade (MEOH)

Jun 26, 2012 (SmarTrend(R) News Watch via COMTEX) -- 6-26-2012- Methanex Corp.'s(NASDAQ:MEOH) shares dropped this afternoon after Raymond James analysts Steve Hanson lowered the company's ratings. The analyst lowered the company to "market perform" from "outperform." Hansen noted that even though the company may look good globally in the long term, declining oil prices are going to affect the company's performance on a short-term basis. Seeing Chinese and U.S economies starting to weaken again also led Hansen to cut Methanex Corp.'s ratings.


Methanex Corporation produces and markets methanol. The Company's product is used to produce formaldehyde, acetic acid and a variety of other chemical intermediates. Methanol is also used as an additive in gasoline and is used in fuel cell applications.

Methanex stock is currently trading down 5.05% today at $25.75 per share. The stock is also below its 50-day moving average of $30.37 and 200-day moving average of $27.35.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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