UBS initiated coverage of Teck Resources with a Buy rating and C$64 price target. UBS is bullish on Teck as it sees a compelling medium term copper growth profile that is both capital efficient and relatively low geopolitical risk. The capital cost escalation at QB2 is now behind Teck, and while the asset has experienced ramp up challenges, UBS material improvement in execution in 1H24, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TECK:
- Teck Announces 2023 Production and 2024 Guidance Update
- Teck Resources initiated with a Sell at Veritas
- Teck Resources price target lowered to C$68 from C$70 at National Bank
- Teck Resources provides update on QB, Q4 steelmaking coal sales volume
- Teck Provides Update on QB and Q4 2023 Steelmaking Coal Sales and Pricing
