Scotiabank Reaffirms “Outperform” Rating for Teck Resources (TECK.B)
Teck Resources (TSE:TECK.B)‘s stock had its “outperform” rating reaffirmed by investment analysts at Scotiabank in a research report issued on Wednesday, StockTargetPrices.com reports. They presently have a C$38.00 target price on the stock. Scotiabank’s price objective points to a potential upside of 29.83% from the stock’s current price.
A number of other analysts have also recently weighed in on the company. CIBC reissued an “outperform” rating and issued a C$38.00 price objective on shares of Teck Resources in a research report on Friday, November 17th. Royal Bank Of Canada lowered their price objective on Teck Resources from C$36.00 to C$35.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Eight Capital lowered their price objective on Teck Resources from C$37.00 to C$36.00 in a research report on Friday, October 27th. TD Securities lowered their price objective on Teck Resources from C$41.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, National Bank Financial raised their price objective on Teck Resources from C$34.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Fifteen research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of C$37.31.
Teck Resources (TECK.B) traded up C$0.28 on Wednesday, hitting C$29.27. 1,360,000 shares of the company traded hands, compared to its average volume of 1,900,000. Teck Resources has a twelve month low of C$19.27 and a twelve month high of C$34.60.
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Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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