BofA raised the firm’s price target on Teck Resources to $49 from $43 and keeps a Buy rating on the shares. The BofA commodities team likes copper, whose market balances have become “increasingly bullish,” says the analyst, who adds that Teck “offers inexpensive, growth-oriented exposure with the potential of substantial capital return.”
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Read More on TECK:
- Teck to Release Fourth Quarter 2023 Results on February 22, 2024
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- Teck Resources call volume above normal and directionally bullish
- Teck Resources price target lowered to C$65 from C$66 at Raymond James
