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Methanex Corporation (NASDAQ:MEOH) is one of the

10 Best Performing Canadian Stocks So Far in 2026.

On May 5, 2026, Scotiabank raised the firm’s price target on Methanex Corporation (NASDAQ:MEOH) to $80 from $70 and maintained an Outperform rating on the shares. The firm said the stock could continue to move higher over time, given management’s disciplined capital allocation strategy and the potential for sustained upside in methanol pricing.

Meanwhile, CIBC analyst Hamir Patel raised the firm’s price target on Methanex Corporation (NASDAQ:MEOH) to $69 from $66 and kept a Neutral rating on the shares. CIBC said the stronger methanol pricing environment should help accelerate deleveraging. While the firm still expects commodity prices to normalize over time, it noted that the Middle East accounts for roughly 20% of global methanol production, and prolonged supply disruptions could support an upside scenario where Methanex shares reach $83.

Image Credit: Pixabay

Earlier in the month, JPMorgan analyst Jeffrey Zekauskas downgraded Methanex Corporation (NASDAQ:MEOH) to Neutral from Overweight while raising the firm’s price target to $65 from $56. JPMorgan said the company’s EBITDA is likely to more than double sequentially from Q1 to Q2 as methanol prices improve, though the firm believes the stock is fairly valued at current levels.

Methanex Corporation (NASDAQ:MEOH) produces and sells methanol and ammonia across Asia Pacific, North America, Europe, and South America.

While we acknowledge the potential of MEOH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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