TD Securities Downgrades Teck Resources (TCK) to Hold on Lower Coking Coal Prices

December 7, 2012 9:14 AM EST
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Price: $9.53 -1.35%

Rating Summary:
    5 Buy, 17 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 17 | New: 12
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TD Securities downgraded Teck Resources (NYSE: TCK) from Buy to Hold with a price target of $38.00 (from $40.00).

"We have taken the Q1/13 benchmark settlement as a cue to reset our average
2013 benchmark coking coal price forecast to US$185/t from US$200/t," the firm notes. As a results, 2013 EPS goes down from $2.80 to $2.52 and EBITDA drops to $3.77B from $4.015 billion.

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 $35.24 yesterday.

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