UPDATE: Dahlman Rose Raises PT on Methanex to $40

Dahlman Rose is out with its report today on Methanex MEOH, raising its PT from $34 to $40. In a note to clients, Dahlman Rose writes, "Following our visit to China last month and getting a better sense of the incremental demand, we are more bullish on the longer-term outlook for methanol. Given the ramp of new internal production and an improved market outlook, we have raised our earnings profile and price target to $40/share from $34/share." Dahlman Rose Maintains Buy on MEOH. Shares of MEOH closed Monday at $29.80.