Ratings for Teck Resources
Previously in this series, we saw what analysts are projecting for Teck Resources’ (TECK) 4Q17 earnings. In this part, we’ll see how analysts are rating the stock ahead of its 4Q17 earnings. Teck Resources has received a “strong buy” rating from five analysts, while 13 analysts have rated the stock a “buy” or some equivalent. Three analysts polled by Thomson Reuters on February 9, 2018, rate the stock a “hold,” and one analyst has rated it a “sell.”
Teck Resources has received a mean consensus price target of $40.94 Canadian, which represents a 17.4% upside over its February 9, 2018, closing price. The stock had a target price of $34.85 Canadian at the beginning of 2018.
In January 2018, TD Securities and CIBC raised Teck Resources’ target price from $38 Canadian to $45 Canadian. Credit Suisse also raised Teck Resources’ target price from $33.56 Canadian to $45 Canadian on January 30, 2018. More recently, on February 8, 2018, Berenberg raised Teck Resources’ target price from $35 Canadian to $44 Canadian. Berenberg also raised Freeport-McMoRan’s (FCX) target price from $13.50 to $15.40. It upgraded Antofagasta (ANTO) from a “sell” to a “hold” and raised its target price from 750 British pence to 865 British pence. The upgrade came amid the broader sell-off in equity and base metal prices (EWC) (GLEN-L). The broader US markets have fallen ~10% from their January 2018 highs in the sell-off in the last two weeks.
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