The Globe and Mail reports in its Thursday, Dec. 1, edition that RBC Dominion Securities analyst Nelson Ng has lowered his recommendation for Methanex to "sector perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ng shaved his share target by $5 to $45 (all figures U.S.). Analysts on average target the shares at $44.91. Mr. Ng says in a note: "We are cautious heading into 2023 as market participants generally expect a U.S. economic recession in the coming year. Methanex's financial results are very sensitive to methanol prices, which could be depressed under a recession. However, we note that the company's balance sheet has strengthened over the past two years, and can weather a downturn (net debt, including leases, to trailing EBITDA is 1.8 times). We note that strict COVID-19 restrictions and the sharp increase in infections on a national level in China could negatively impact near-term methanol demand. ... Although elevated natural gas prices could support methanol prices, we believe an economic slowdown will lead to lower overall methanol prices." The Globe reported on Oct. 12 that Barclay's Michael Leithead rated Methanex "overweight." It was then worth $33.51.