Methanex Corporation’s (Methanex) 1Q 09 revenues were above our estimate and earnings were in line with our estimate. We are likely to lower our earnings and target price estimates in our next update report to reflect the ongoing downward trend in methanol prices. However, we remain encouraged by the company’s strong financial position. Hence, we maintain our HOLD rating until we can fully reassess our NASDAQ common stock rating for Methanex in our next update report…

The decline in methanol prices, through the slump in demand, and FIFO related accounting charges led to the deterioration of the company’s fiscal performance in 4Q 08. We anticipate methanol demand will remain low, as the slowdown in the global economy worsens and the fallout of the financial meltdown reaches ever further. The growth in demand…

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Methanex Corporation (Methanex) announced its 4Q 08 results on 29 January 2009, with revenues and earnings falling significantly short of our estimates. Although we are likely to revise our earnings and target estimates downwards in our next update report to account for a recent decline in methanol prices, given the recent decline in stock price, we believe the NASDAQ common stock offers an attractive investment opportunity…