Market Overview

UPDATE: Deutsche Bank Raises PT on Teck Resources Ltd. Following the Tide Going Out

Related TCK
Mid-Afternoon Market Update: Oxford Industries Drops On Downbeat Results; Office Depot Shares Spike Higher
Dow Suffers Worst One-Day Performance In 2014, Volatility Returns To The Markets

In a report published Wednesday, Deutsche Bank analyst Jorge Beristain reiterated a Buy rating on Teck Resources Ltd. (NYSE: TCK), and raised the price target from $25.00 to $26.00.

In the report, Deutsche Bank noted, “With the tide apparently having gone out for key global metals and bulk commodities, NA Metals & Mining managements will simply have to learn to make do with less free cash flow, smaller projects and smaller m&a deals than what were possible during boom times. The clarion call for managements now is to live within their Balance Sheet means. This calls for increased cooperation and heightened creativity for the funding of next generation growth projects and a tighter focus on the bottom-line. Those that heed the call should be the relative winners. Unfortunately, large debts limit flexibility and those continuing to deficit spend will risk downgrades of Investment Grade ratings.”

Teck Resources Ltd. closed on Tuesday at $26.60.

Latest Ratings for TCK

DateFirmActionFromTo
Dec 2014UBSUpgradesNeutralBuy
Oct 2014Deutsche BankMaintainsHold
Oct 2014FBR CapitalMaintainsOutperform

View More Analyst Ratings for TCK
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Jorge BeristainAnalyst Color Price Target Analyst Ratings

 

Related Articles (TCK)

Around the Web, We're Loving...

Get Benzinga's Newsletters