Nomura Securities Starts Teck Resources (TCK) at Neutral

Nomura Securities initiates coverage on Teck Resources (NYSE: TCK) with a Neutral. PT C$40.00.

Analyst, Curt Woodworth, said, "Despite a reasonable valuation and strong organic growth pipeline, we initiate with a Neutral rating, owing to our concern that a slowdown in China will cause copper prices to fall and limit upside potential for coking coal prices. FY12E/13E revenues C$11510m / $11566m; 2012E/2013E EPS C$3.75 / C$3.30."

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 $40.07 yesterday.

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