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Teck Resources upgraded to Buy from Neutral at UBS
The Fly

Teck Resources upgraded to Buy from Neutral at UBS

UBS analyst Myles Allsop upgraded Teck Resources to Buy from Neutral with a price target of C$78, up from C$76. The stock’s risk/reward has improved following the commodity price consolidation, the analyst tells investors in a research note. The firm expects Teck shares to benefit from higher copper prices and to re-rate as the company announces the next phase of its growth, new cost savings and full QB2 ramp.

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