The Globe and Mail reports in its Thursday edition that Raymond James analyst Steve Hansen has downgraded his recommendation for Methanex to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen has an unchanged share target of $45 (all figures U.S.). Analysts on average target the shares at $50.14. Mr. Hansen says in a note: "We think it is prudent to step to the sidelines until recent seasonal/geopolitical constraints fade and a more attractive entry point emerges. ... Methanex's share price has surged 26.8 per cent over the past three months, drawing strength from a series of macro factors that include: 1) widespread Iranian natural gas shortages and commensurate methanol capacity shut-ins; 2) surging Iranian civil unrest over the past three weeks; 3) derivative concerns over a potential US military strike; and 4) rising commensurate spot methanol values particularly in China/Asia (NA & Europe still flat-to-down). As previously opined, winter 'fly-ups' are a common seasonal dynamic in global methanol markets due to acute gas shortages and methanol capacity downtime that surface in key production hubs like Iran and China. This winter has been no exception."