The Globe and Mail reports in its Wednesday edition that Barclays analyst Michael Leithead has reaffirmed his "overweight" recommendation for Methanex. The Globe's David Leeder writes that Mr. Leithead cut his share target to $48 from $52 (all figures U.S.). Analysts on average target the shares at $45.45. Mr. Leithead says in a note: "Well, that escalated quickly; from 'peak' to below mid-cycle in five quarters for most commodity chemicals. Accelerated declines in Europe, weakening consumer, rising rates and FX, energy inflation, and increasing availability/competitiveness of imports have driven roughly a dozen negative pre-announcements in the space over the past month. We are 8 per cent below 3Q consensus EPS for our coverage (biggest gap on polyethylene names), and the end-of-year trajectory leads us to being 10 per cent below FY'23 consensus EPS for our coverage. All that said, we think most of our stocks already reflect that reality: our coverage underperformed the SPY by 11 per cent in 3Q, a number of our names now price in a deep trough, and investor sentiment is mostly bearish. Even for the optimistic, there is general unwillingness to buy into a likely double-digit percentage cut to NTM numbers."