Teck Resources price target raised to $52 from $50 at Benchmark

Benchmark raised the firm’s price target on Teck Resources to $52 from $50 and keeps a Buy rating on the shares. The firm, which says that its Q1 estimates have been lowered after incorporating several revisions, including Teck’s recent steelmaking coal update as well as average commodity prices and forex changes for the quarter, notes that Teck is scheduled to report results on April 25 and that it anticipates a discussion around the production ramp at QB2 as well as an update on the company’s coal business divestiture expected to close in Q3.