The Globe and Mail reports in its Thursday, Feb. 22, edition that according to Raymond James analyst Steve Hansen, the market has overreacted to Methanex's announcement of a delay to the start-up of its Geismar 3 project, and he continues to believe that the company's shares have solid value. The Globe's David Leeder writes that Methanex shares slipped on Tuesday after it said commercial production has been pushed back. Mr. Hansen has an unchanged "outperform" call on Methanex. He trimmed his share target to $62 from $67 (all figures U.S.). Mr. Hansen says in a note: "We have trimmed our 2024 EBITDA estimate by $185-million, primarily on account of: 1) lost G3 production; and 2) added short-term costs associated with prearranged feedstock arrangements. Importantly, these revisions fail to account for any market response and/or improved timeline that could emerge. Incremental capital costs are expected to be modest, with management indicating total capital cost will not significantly exceed the high-end of its guidance range. For context, this implies $110-million in residual spending through 2024 (vs. 4Q23 cash: $458-million). While there could also be associated insurance proceeds, we do not model any at this time."