JPMorgan raised the firm’s price target on Teck Resources to $50 from $44 and keeps an Overweight rating on the shares as part of a Q1 earnings preview for the North America copper group. Copper’s recent bullish shift has unfolded quicker than expected while coinciding with earlier than anticipated momentum building in global manufacturing PMIs, suggesting pricing may have outpaced fundamentals at this point, the analyst tells investors in a research note.
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Read More on TECK:
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