Berenberg Upgrades Teck Resources (TCK) to Hold
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Berenberg upgraded Teck Resources (NYSE: TCK) from Sell to Hold with a C$34.50 price target.
Analyst Fawzi Hanano commented, "We admit that we missed the boat on the stock’s primarily coal-price-induced rally. We believe that current strong prices, even if short-lived, will leave the company in a much stronger financial position, with net debt to decline substantially in the coming year. We raise our price targets to CAD34.50 and USD25.50, reflecting our raised estimates, and as a result and we upgrade our rating to Hold."
Shares of Teck Resources closed at $25.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Upgrades Flowers Foods (FLO) to Hold
- KeyBanc Upgrades Waste Connections Inc. (WCN) to Overweight
- Credit Suisse Upgrades CVR Refining (CVRR) to Outperform; Most Exposed to RINs
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!