Berenberg Upgrades Teck Resources (TCK) to Hold

November 30, 2016 7:22 AM EST
Get Alerts TCK Hot Sheet
Price: $25.36 --0%

Rating Summary:
    10 Buy, 16 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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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."

For an analyst ratings summary and ratings history on Teck Resources click here. For more ratings news on Teck Resources click here.

Shares of Teck Resources closed at $25.20 yesterday.

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