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RBC Reiterates Methanex's Sector-Perform Rating, US$65.00 Price Target

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-- RBC Capital Markets on Wednesday maintained its sector-perform rating on the shares of Methanex (MX.TO, MEOH) and its US$65.00 price target.

Methanex recently released its non-discounted methanol reference prices for May, outlining a 19% increase to $1,480 per tonne for North America and unchanged at $740/mt for Asia Pacific, excluding China.

RBC believes the reference prices will have a modestly positive impact on the shares of Methanex, as it implies that the realized methanol price for May will likely be higher than April.

Methanex is expected to release its first-quarter results after market close on Wednesday, where investors may focus on management's comments relating to the methanol supply/demand/pricing dynamics particularly in Asia.

Investors are also expected to focus on management's update on the outlook for its New Zealand operations.

Price: $87.11, Change: $+4.41, Percent Change: +5.33%

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