Teck Resources resumed with Outperform from Market Perform at BMO Capital

BMO Capital upgraded Teck Resources to Outperform from Market Perform with a price target of C$85, up from C$45, after resuming coverage of the name. The company is “significantly different” with completion of the coal separation and construction of the QB2 copper mine, the analyst tells investors in a research note. The firm says Teck “will be a cleaner investment story going forward as a simplified copper investment vehicle.”